Is this why David Cameron ranted at reporters in a press conference – he was angry at the revelation of his families tax avoidance secrets?
This Writer had believe the Cameron family’s tax avoidance was well known prior to the ‘Panama Papers’ leak.
Perhaps there is more to be revealed.
A sensational leak of 11 million confidential documents last night showed how the world’s richest people protect their wealth.
The records, said to be from secretive Panama law firm Mossack Fonseca, apparently show world leaders, sports stars and celebrities use offshore companies.
Among those mentioned in the “Panama Papers” were David Cameron ’s late father Ian and several Tory peers and former MPs.
Mr Cameron’s father, who died in 2010, is reported to have used Mossack Fonseca to shield his investment fund, Blairmore Holdings Inc, from UK taxes.
Papers say his fund was “managed and conducted so it does not become resident in the United Kingdom for UK taxation purposes”.
While tax evasion is illegal in the UK, tax avoidance or minimisation is usually legal.
Vladimir Putin is also linked. Although the Russian President is not named, files reveal money from Russian bank Rossiya – already on the EU sanctions list – was channelled through offshore firms owned by associates allegedly including concert cellist Sergei Roldugin.
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