“Dodgy Dave” as he was referred to by Dennis Skinner in the parliament recently has been in the eye of the limelight for his father’s Panama-based UK tax avoidance fund. Details of this fund were revealed in the Panama Papers leak and David Cameron has since then accepted that he benefitted from the sale of these funds before he entered office.
According to the Guardian newspaper, Cameron and his wife Samantha held shares in this offshore fund during his time as the opposition leader.
He sold the funds for a profit of £19,000 and income tax was paid but no capital gains tax was payable.
Mr. Cameron has been less than upfront about the state of the £300,000 that he inherited from his father and if any of this money he had gained was taxed due to it being based in a unit trust in Jersey, a known tax haven.
Mr. Cameron told the Guardian that, “I obviously can’t point to the source of every bit of money and dad’s not around for me to ask the questions now.” Cameron as a new fintech poster boy
Conveniently for Mr. Cameron, it seems he has forgotten or has a case of selective amnesia. However, we can all take heart from the fact that David is now on our side and is a happy new endorser of the Fintech industry.
In a video released by Innovate Finance on YouTube , the British Prime Minister goes on and on about how Fintech is the new salvation for Britain and how Britain is THE place for the industry.
It is a pity though that the Camerons don’t seem to like Britain when it comes to keeping their own money. It would surely help him to park his funds right at home because the Huffington Post reports that 44% of […]
