Prime Minister David Cameron has said that he did have a stake in his father’s offshore business.
Panama Papers: David Cameron finally clears the air on family investments
Since the release of the Panama Papers, acknowledged now as the biggest leak in history, much has been made of the PM’s late father’s apparent involvement in murky offshore dealings.
David Cameron has been under pressure not only to take a harder line on offshore tax dealings, but to disclose whether or not he has funds in offshore.
He said yesterday that ‘I have no shares, no offshore trusts, no offshore funds – nothing like that.’
However, he revealed today that he did have a stake in his father Ian’s offshore investment fund.
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‘We owned 5,000 units in Blairmore Investment Trust, which we sold in January 2010. That was worth something like £30,000’, he told ITV News.
‘I paid income tax on the dividends. 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 way.
‘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.’
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