Tax Havens

Nobody knows how much money Ian Cameron had to leave his children overall, because it's still coming out that he had funds in Switzerland, and Jersey, and heaven knows how many other places.

Ian Cameron and his son did the same thing about the house that Tony Benn did. David Cameron's brother, Alexander, took over the family house, worth £2.3 million in 2006. They swapped ownership.

The difference betwen the two families is the secrecy. I am surprised you cannot see that, niggly.

newsthump.com/2016/04/07/david-cameron-appoints-sir-john-chilcot-to-lead-inquiry-into-familys-tax-affairs/

What I can't.understand is that Tony Benn always led us all to believe that he deeply disapproved of anything even remotely resembling tax avoidance, or the manipulation of money whether it was legal or not! I suppose whatever your beliefs and moral standing, it's different when it's your own family!!

They both deliberately avoided tax! Tony Benns wife left her share of their property to their children to minimise the inheritance tax burden, sensible planning to some, avoidance to others, ditto Ian Cameron. Variation on a theme of course and not much to choose between them, but their sons are not to blame. Mind you I suppose the junior Benns could have refused this arrangement, but then which one of us would?!

Jane, Benn minimised tax liability using the law. No shenanigans about it! My ex-MIL has done the same thing for her son and my children. I don't happen to agree with it, but it's a gaping hole and something anybody with assets over £1million would be foolish not to exploit.

Offshore, secret accounts involving all sorts of networks are a different ball game.

nell everyone knew what Benn was worth it was in his will.

We haven't a clue what Ian Cameron was worth

Its in a much worse league! Cameron didn't avoid tax. Benn specifically did by inheritance tax shenanigans.

niggly, He wasn't hiding it - that's the point! I have my own thoughts about inheritance and inheritance tax, but what Tony Benn ( or his late wife) did was something many people do. I don't think it's right and I was never a fan of Tony Benn, but what he did is seriously not in the same league.

Oh come come! Benn went to great lengths to protect his wealth from the taxman, this required professional, detailed and a well thought out avoidance plan! ditto Ian Cameron. What their fathers did cannot possibly be the fault of either Hilary Benn or David Cameron, but to try and make out that somehow Tony B was ethical and therefore ok and Ian C wasn't is laughable!!

nellie Benn wasn't hiding his wealth in order to avoid paying UK tax. Cameron senior did, and you have to ask yourself why.

I think Tax avoidance has been going on for years on all sides of the H's of C! and the H of L's. D.C' isn't the only politician to have a prudent father!!!

I haven't lost confidence in the PM or HMG over this tax haven business, as I had none to begin with.

What puzzles me is this. After Tony Benn died it was discovered that he had gone to an inordinate amount of trouble to avoid as much as possible any inheritance tax that would have reduced the amount he was able to leave, nearly all of which was to his children! Nothing much to the labour party or good causes!! While this of course was his business, and he did nothing illegal, why is it that there was not a murmur of disapproval from the party or from left wing people on here?! David Camerons late father did roughly the same and also did nothing illegal, but is being portrayed as more wicked than Lucifer himself. Can anyone explain why it was ok for Tony Benn to avoid tax to enhance his children, but not ok for David Cameron's father?!

I thought he'd sold them 6 years ago. Doesn't have any offshore now.

Just to add, politicians have to show transparency in all their dealings and I believe Cameron has been badly advised, there has been nothing illegal going on, but he if had shares then he should have said so directly.

While non of us are experts ( presumably)about tax havens/offshore accounts, and know that dictators/ shysters/ criminals use some firms as money laundering outlets, what others ( with money to invest) do is not illegal and not tax avoidance either, just a way of investing, many pension schemes have also invested in this way.They DO pay tax on them when the shares are sold, just as a house abroad bought as an investment will pay capital gains tax when sold.There is a big difference in these kind of financial dealings.

Surely he will have to go

A tax haven expert, who has written books about it, has said that Panama has always been known as one of the sleaziest jurisdictions.

"He has admitted lying to the public about money he gained by holding shares in one of the firms his father ran, based in a tax haven to avoid paying UK tax. But Ian Cameron apparently had more than one firm based in a tax haven, and took legal advice on which were the best tax havens to use, so David’s claim that Panama-based Blairmore was a company for people who wanted to invest in dollar-denominated shares doesn’t have substance.

They could have done that from the UK.

Claims by supporters – such as Anna Soubry on the BBC’s Question Time – that Ian Cameron’s behaviour was not illegal are also pointless. David Cameron made a very clear statement that he considered tax avoidance to be “immoral” in 2012. Now we know that he profited from at least one such “immoral” scheme. And from how many more, about which we may still know nothing?

Incidentally, the reason avoidance schemes remain legal is simple: The super-rich and politicians make sure of it. It’s their own little playground because only the super-rich have access to such schemes."

From an article on Voxpolitical.

The final paragraph says it all.

There is a gathering starting at Downing Street tomorrow, finishing when he resigns.

Philip Hammond not answering questions now. He does not know what Cameron has said yet, so cannot comment..

This is just getting seedier with each day. How can this government can make youngsters homeless, take mobility allowance away from those who depend on it, make people pay bedroom tax , and receive money from tax dodgers and dodge tax themselves ,

It cost £40-50,000 to move the Blairmore business from Panama to Ireland. Actually, that was just for the advice - another £10,000+ for the move - so there are many more revelations to come about Blairmore.
I know he was doing it as a business, but they must all have known as it was in the prospectus.
So who else benefited?

I'm waiting for the gaff to be blown on Corbyns Post Office account.
Come on Jeremy tell us where that £15 came from.

Another media comment.

The other thing being talked about is how the chickens are coming home to roost and all the sleeze and flashman tactics employed by this PM and cohorts is coming back in spadefulls

Just seen this on another social media site.

A level political science question.

Q. What size is the tip of the iceberg?

A. £30000

Totally agree Penstemmon

I am reminded of something Nye Bevan said about the Tory party , how it's like a rosy apple on a tree, tempting to pick and eat, but inside is a worm eating it's way through until the rotting Apple falls from the tree

Cameron's a dead duck. The Tory party will make sure of that. Almost certainly Gideon will go with him, as they are like tweedledee and tweedledum.

Mays very quiet - playing a good game - she hopes!