It stated: "The affairs of the fund should be managed and conducted so that it does not become resident in the United Kingdom for UK taxation purposes."
Explaining that the firm has access to banking services in Panama as well as auditors and trading offices in the Bahamas, Blairmore Holdings was certainly keen to convince investors that the business would be beyond the reach of Her Majesty's Revenue & Customs.
Valued today at £25m, the Panamanian fund whose founder in Panama was the son of nazi SS General Erhard Mossack of Hitlers Deaths head division, was established in 1982 while David was still at Eton, the school that his father attended. Ian Cameron's offshore wealth when he died in 2010, left an estate of £2.7 million, including £300,000 in cash to David Cameron –( just below the inheritance tax threshold at that time.) However, if he did have assets outside of the UK they would have been administered in the territories in which they were registered
Panama tax scam lawyer son Nazi SS officer Deaths Head division
In recent months, the role of Britain's tax inspectors has come under renewed scrutiny. On Wednesday, David Cameron raised the subject again, telling parliament: "We have increased staffing at HMRC to ensure that we crack down on tax avoidance."
He then put pressure on the opposition to condemn Ken Livingstone for his tax affairs: "The man whom they are putting forward to be mayor of London has set up a company to funnel all this money into and is potentially paying a lower tax rate than the people who would work for him at the GLA. It is completely disgraceful." He also had a pop at coimedian Jimmy Carr calling his tax arrangements 'morally wrong'
Cameron calls Jimmy Carrs tax arrangements MORALLY WRONG!
Over to you Jimmy & Ken!
No comments:
Post a Comment