Tax Havens

Two non-execs at HMRC at least have links to the big four, one at KPMG and another at PWC.

All the company needs is a name plate on a building, ridiculously there can be loads of companies in the same building.

I am sure that what is being said is true, but don't forget the company isn't based on shares as is traditional but on a financial instrument which will not be attached to individuals. I assume held safely in an overseas bank
They won't be traded on the stock market presumably.
If this is still the case presumably the beneficiaries of this company will not be named as shareholders. It also isn't a trust as far as I am aware.

Dave's wife and children do not have overseas shares , perhaps thry have been sold at great speed

The big accountancy firms put all their brightest staff in the tax avoidance dept. dreaming up New and complicated schemes. They then sell these at vast amounts of money to interested parties. They, however never take on the liability if it all goes pear shaped. So it is win win all the way to the bank. I think these schemes ought to be run past HMRC in detail before they are allowed to function.

www.taxresearch.org.uk/Blog/2016/04/05/does-david-cameron-have-to-talk-about-his-father/

All four big accountancy firms have offices in Panama or the BVI. Why?

www.taxresearch.org.uk/Blog/2016/04/04/who-is-in-panama-and-the-bvi/

There must be more accountants and businesses there than there are residents to work there. Can't kid me that people do not know.
Rich people get worried about being fleeced. They know where their money is. Jimmy Carr knew. He was naive in believing it was legal.
Greedy people get caught out.

I am just waiting for the government to cut the number of staff working in HMRC again.

www.facebook.com/pestonitv/posts/1598791460445593

Robert Peston on asking the question.

Iceland's PM has resigned.

I absolutely do so not agree nonnie when you say individuals do not know where their money is, and if they don't this is no defence in law.

However Cameron cannot be held to account for the actions of his father, just as Milliband should not have been held responsible for his father's beliefs, but the Tory press certainly tried hard to do so.

I doubt if any of them actually know where their money is. When I worked for a huge company KPMG came in twice a year to deal with the tax of all the directors. I suspect most wealthy people do the same, whether they are political or not.

I am not on any side but I do think it is wrong to blame anyone for what someone in their family did. My family has its fair share of black sheep and I don't feel at all responsible for their actions.

Guardian Headline, Cameron ducks question about benefiting from offshore trust.

Daily Mail Headline, “David Cameron denies he gets any income from his late father’s tax haven company.”

Two different ways of looking at it.

I wonder if there's a reward for the first investigative journalist who finds out anything.
They'll all be hunting now.

Actually, what is just as bad, if not worse, is the number of companies linked to arms dealing that are set up in Panama or the BVI.

He has said he has no shares etc, No 10 has said the family's affairs are a private matter , so that's sorted , slippery bunch of worms

Cameron has an older brother who inherited the family home, and business.
I think Blairmore comes from the Scottish ancestral home, but I do not know if it is still in the family.
He was asked about the family, but only answered about himself.
I wonder how many shares are in his wife's name.

I am sure you are right rose there will be a lot of hot air and very little action. But like the expenses scandal mud sticks and this will be remembered and should be remembered by all those honest tax payers who are undoubtedly paying more than necessary.

No doubt more will come out about this company ( From the leaks) and who has done what.It's sifting out the illegal from the legal, although we didn't expect much from the likes of Putin and friends, or any dictators. I had heard this about Cameron's father some years ago, so it's not a new revelation, and although embarrassing for him, we can't all be taken to task for the financial doings of our Dads( thankfully.) Time that this country at least, did something to prevent the downright dodgy or illegal goings on in offshore companies .You can never prevent the legal aspect though, all people with any wealth / business will employ an accountant to get the most from their money.This may be one of those 'something must be done' affairs ( and then nothing is done.) We shall see!

I am an ordinary UK citizen. A fiercely patriotic Scot - if I have money to invest (a very rare occurrence) or donate or purchases to make, I will look first at companies or producers in Scotland and failing that will then look at UK wide or Welsh, English, NI companies or producers. If there is no UK based supplier, I am willing to consider a foreign company who have at least a factory or depot here, employing people and PAYING THEIR UK TAXES - e.g. I have never and will never buy anything from Amazon. It makes sense to me to use my monetary support as locally as possible to help boost our economy, provide jobs, etc. which will ultimately provide some small benefit to me and mine.

I cannot understand the mind set of people who inherited or earned their wealth in this country and yet go to great trouble to invest it 'elsewhere' just to earn an extra few bob and then declare themselves so proud to be British and to sit in the Houses of Commons or Lords.

Yes the FT says that he needs to come clean on this one as unless he does he will be judged as a total hypocrite. He undoubtedly benefited from a tax avoidance and possible tax evasion (see activities in 2006 of Blairmore) income, in his upbringing and elite education at Eton and Oxford.

However his fathers will covering those off shore activities has not been made public as it was deemed not belonging in the UK - hmmm? So what happened to that on his death is not clear.

If all benefit stopped to DC then he has clearly forged his own farrow, except a bit of humbleness wouldn't go amiss relating to the benefit he did obtain from tax avoidance/evasion.

Dave received thousands , but the shares ? He has been asked if they with his family and his reply is - I have no personal shares, - his wife, mother , brother could , so another dodgy answer

So if DC holds no off shore shares or trust what happened to his fathers share of the company on his death?

He has Lord Ashcroft to advise him on how to dodge the truth ,

Interested in hearing that DC has stated that he owns no personal shares. Well Blairmore ( love the name?) is controlled not by shares in the ordinary sense. It is controlled by an obscure financial instrument called bearer shares, which are used similar to banknotes. These have been abolished in many countries as they are used extensively by mobsters and money launderers.

It was known Cammeron Snr had oversea investments, it was not known he had a company for thirty years and flew out just to hold board meetings

tegan yes you are right but as I said in a previous post we now have actual evidence as apposed to supposition.

General opinion is that he will have to go.

I agree, it's a disgrace, it should be illegal, it certainly immoral. Be interesting to see whether the ground swell of anger in Iceland will be enough to oust their PM.