There is no suggestion of illegality by Troup, Simmons & Simmons or any of its clients – but then, that’s because David Cameron and Troup are among those who write UK tax law.
And it is clear that UK tax law is corruptly influenced to allow the rich the advantage of benefits that are not available to the poor – such as access to offshore tax havens.
Cameron announced on Saturday that HMRC would be working with the National Crime Agency to lead a “world-class” taskforce to investigate allegations of tax dodging and money laundering brought to light by the leak of 11.5 million files from the Mossack Fonseca.
Clearly Edward Troup, whose former employers helped facilitate the Cameron tax avoidance, must have nothing whatsoever to do with it.
The boss of Revenue & Customs (HMRC), the government department overseeing a £10m inquiry into the Panama Papers, was a partner at a top City law firm that acted for Blairmore Holdings and other offshore companies named in the leak.
Edward Troup, executive chair of HMRC since April, is a former partner at Simmons & Simmons, whose clients have included the Panama-registered fund created by David Cameron’s father, Ian.
The law firm’s name appears on dozens of emails and documents in the Panama Papers in connection with a number of companies registered with Mossack Fonseca, the offshore agent at the centre of the scandal, although HMRC said Troup had not personally dealt with the firm. Some correspondence dates back to 2003, when Troup was still a partner. The first emails to Mossack Fonseca regarding Blairmore date from 2005. It is understood that Simmons & Simmons was advising Blairmore from 2001.
There is no suggestion of wrongdoing by Troup, Simmons & Simmons or any of its clients, and nothing in the files that indicates Troup personally advised any offshore company registered with Mossack Fonseca.
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