Taxi Driver Online

PM Admits Owning Shares In Dad's Offshore Fund


David Cameron has admitted he did hold shares in an offshore tax haven fund set up by his late father.

The Prime Minister has faced questions this week over his family's tax affairs after details of the investment fund were reported as part of the Panama Papers leak.

Downing Street initially said it was a private matter before then saying the PM had no offshore funds and trusts, and then making clear the family would not benefit in future either.

In response to a question from Sky's Faisal Islam at an event on Wednesday, the PM said: "I have no shares, no offshore trusts, no offshore funds, nothing like that."

Now in his fifth statement on the matter, Mr Cameron, who has been a high-profile campaigner for more tax transparency, said he and his wife sold shares worth more than £30,000 in Blairmore Holdings.

He insisted it was a "fundamental misconception" that the fund was set up to avoid tax, saying his late father Ian was being "unfairly written about".

He also said he did not have "anything to hide" about his financial affairs.

Mr and Mrs Cameron bought their holding in April 1997 for £12,497 and sold it in January 2010 for £31,500, according to Downing Street.

The PM said he and his wife Samantha's profit was "subject to all the UK taxes in the normal ways" and it was just below the threshold at which capital gains tax would have applied.

The annual personal allowance for an individual in 2009-10 was £10,100 - meaning jointly the profit was just outside the threshold.

He told ITV News: "I paid income tax on the dividends, but there was a profit on it but it was less than the capital gains tax allowance, so I didn't pay capital gains tax, but it was subject to all the UK taxes in all the normal ways.

"So I want to be as clear as I can about the past, about the present, about the future, because frankly, I don't have anything to hide.

"I'm proud of my dad and what he did and the business he established and all the rest of it.

"I can't bear to see his name being dragged through the mud, as you can see, and for my own, I chose to take a different path from my father, grandfather and great-grandfather, who were all stockbrokers.

"And I've got nothing to hide in my arrangements and I'm very happy to answer questions about it."

Mr Cameron also repeated he was willing to publish his own tax returns.

http://www.msn.com/en-gb/news/uknews/pm ... spartanntp

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Think of how stupid the average person is, and realize half of them are stupider than that.
George Carlin

Resign you lying b*stard.

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Think of how stupid the average person is, and realize half of them are stupider than that.
George Carlin

If they were sold in 2010 he was not lying.

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Grandad,

We're in this together.

TIP OF THE ICEBERG

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All posts by this contributor are made in a strictly personal capacity

I AM PROUD TO BE A CITIZEN NOBODY'S SUBJECT http://www.republic.org.u

F88K EM ALL WHAT GOES AROUND COMES AROUND

BOOZE BOOZE BOOZE

It does not matter as to whether he is lying or not - he has other devious traits! He has made it abundantly clear that he will see nothing wrong with a member of his family evading tax - we must not besmirch daddies name, after all..... "He was very generous to me".

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if you cannot be yourself, then who can you be.

Of course it matters. What tax was evaded?

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Grandad,

I am confident that Camerons father is a tax dodger - are you confident that he is not? I am also confident that dodgy dave is also tainted - are you not?

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if you cannot be yourself, then who can you be.

Tax avoidance is not a crime. Tax evasion is.How many taxi drivers do you know that evade tax by not declaring their full earnings?

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Grandad,

[quote="grandad"][quote="cabby john"][quote="grandad"][quote="cabby john"]


It does not matter as to whether he is lying or not - he has other devious traits! He has made it abundantly clear that he will see nothing wrong with a member of his family evading tax.
Of course it matters. What tax was evaded?

I am confident that Camerons father is a tax dodger - are you confident that he is not? I am also confident that dodgy dave is also tainted - are you not?
Tax avoidance is not a crime. Tax evasion is.How many taxi drivers do you know that evade tax by not declaring their full earnings?

Taxi drivers are not running the country,although they would probably do a better job.

[/quote]
Tax evasion is ok by taxi drivers then. double standards then.

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Grandad,

Tax evasion is ok by taxi drivers then. double standards then.[/quote]

I cannot believe that you are using taxi drivers as a comparison to a Prime Minister

Even if it were true, then most taxi drivers would be only too happy to turn over a new leaf if they had a fraction of the wealth that Cameron has. In any event the Prime Minister should be above that kind of sleaze.

Tbh I had to look as to where Panama is!

Of all of the places in the world, who transfers money to anywhere in South America? I would not trust that neck of the woods if it were the last place on earth. To put money in a place like that you would have to have some really dodgy cash that you were terrified of someone finding out about.....watch this space - plenty more to come out about it.

Dodgy Dave is a fitting Moniker.

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Common sense........is just not that Common.

It may have escaped your notice but this is a taxi drivers forum which is why I used taxi drivers in the example.

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Grandad,

I don't think many tdo subscribers have placed £11K in a fund set up by their fathers in the Caribbean via Panamanian lawyers and trebled the investment.

Although we could run a poll.

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Think of how stupid the average person is, and realize half of them are stupider than that.
George Carlin

It is totally irrelevant as we are basically discussing tax evasion/tax evasion benefit by a Prime Minister, a subject that is not about taxi drivers, neither is it directly about taxi drivers, as it is in the political section. Tax evaders come from all professions, unfortunately for DD on that subject, he has to be the shining light, with regards to that, he is proving to be less than dim. Even if it were true that taxi drivers are evading tax "Two wrongs - do not make a right", thus negating any comparison.

Do not forget - As much as politicians are out and out liars, it is another thing the electorate thinking that they are - but a vastly different situation upon being caught. It makes it a solid reason not to trust the person that has been elected to represent you/I to the best of their ability and honesty, he is failing very badly on that one. George Osbourne was very evasive when being interviewed on the same subject - I will not be at all surprised if he has skeletons in the cupboard.

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Common sense........is just not that Common.