Camerons dad and his off shore tax haven

[Nial]

Not if the rich use the loopholes made by the rich for their own benefit, but it is highly dubious and used for Tax avoidance

 

Except DC didn't use it for tax avoidance.

 

The investment company didn't have to pay corporation tax in Panama, so more profits were distributed to share holders.

 

This meant more tax was paid on the profits in the UK (or wherever the investers were from).

[keg]

Not if the rich use the loopholes made by the rich for their own benefit, but it is highly dubious and used for Tax avoidance hence why DC sold his shares before becoming PM and why it took days for him to actually come clean (assuming he has which he probably hasn't). The point is he took the moral high ground whilst being as bad as the rest with his family using every trick to avoid taxation. This isn't about what is technically legal or illegal.

The loopholes are left by the lawmakers (MPs) who i've already said, are not accountants. If the PM is a millionaire or billionaire I don't care. This is class envy/hatred. it's the same bunch that sab shoots and hunts.

[JRDS]

The loopholes are left by the lawmakers (MPs) who i've already said, are not accountants. If the PM is a millionaire or billionaire I don't care. This is class envy/hatred. it's the same bunch that sab shoots and hunts.

 

No not accountants, far more sinister than that. I don't give a **** he is rich either but know a total hypocrite when I see one. Anyway he is working wonders for Brexit so all good from where I am sat.

 

You mean apart from the fact he has forgone his tax free allowance so has actually ended up paying more tax than he needed? And before you ask it's on the return he filed. But hey, why bother using facts when you can use sensationalism eh!

 

You fell for the tiny PR stunt then.

[MrM]

 

 

 

You fell for the tiny PR stunt then.

 

Haha. You're not the editor of the Mirror by any chance are you lol?

Edited April 11, 2016 by MrM

[AVB]

JRDS. Do you have any idea how these Investment funds work or are you happy to believe what you read in the Guardian or Daily Fail?

 

The fund that Cameron had shares in is what is called a UCITS fund. A UCITS fund can operate freely across the EU and can be bought or sold by pretty much anybody. Including you if you wanted to.

 

The fund in question, Smith &Williamson Blairmore Global Equity Fund, itself holds shares in a number of global companies (50% in Us equities, 15% UK 35% in rest of world) including amongst many others - Google, Walt Disney, Honeywell, UPS and CVS healthcare.

 

There is nothing untoward with this fund and it hasn't performed particularly well. there is no tax advantage in investing in it. You would pay CGT on any gains made once you came to sell it if the gains took you above the Annual CGT allowance.

 

Please, please tell me what is wrong with this and the many other non UK'd domiciled UCITS funds in existence?

Edited April 11, 2016 by AVB

[Gordon R]

AVB - can't really disagree. It is slightly puzzling as to why he jumped into the Jimmy Carr situation, whilst seemingly ignoring Gary Barlow et al.

 

I believe he did it to capture some cheap publicity by talking tough. He doesn't appear to have followed up Gary et al, so I can't think that he was very sincere. It shows a complete lack of judgement, which has come back to haunt him.

 

Whatever the rights or wrongs of these investments are almost immaterial. It has damaged him politically.

[yod dropper]

I think there was something like 1000 people on that (JC/ GB) list. The money in the sports, arts and media sector is considerable. A couple of £million a year is not out of the way by any means. 20 years ago when Angus Deayton lost his HIGNFY slot he was on c.£50k per show. BBC journalists know the holy grail is to get a presenters slot as their income rockets. With that much money sloshing about and no guarantee it will continue they'll do all they can to pay as little tax as possible and has been proven through the most cynical schemes going.

Edited April 11, 2016 by yod dropper

[vole]

Dad this, Dad that , Me Old Dad ...Angry my Old Man got caught out investin overseas so I kept schtum . Gawd I miss me old man . Bet his Eton chums are His Old Muckers .

[buze]

Dad this, Dad that , Me Old Dad ...Angry my Old Man got caught out investin overseas so I kept schtum . Gawd I miss me old man . Bet his Eton chums are His Old Muckers .

 

Cruel you! That poor man is still in MOURNING and you mock him, OF COURSE he didn't know anything, his brain is still reeling in pain from the loss, and of course that could make him a bit forgetful and could imper his judgement.

 

Oh wait, the guy's running he country?

[amateur]

Corbyn "forgot" to declare his pension income on his tax return, and sent it in late.

[Jaymo]

My Father has money invested- I don't know where and I don't need to know- it's his business.

So, can you honestly tell me everyone who is making judgement knows all of their parents monetary affairs.p

[JRDS]

My Father has money invested- I don't know where and I don't need to know- it's his business.

So, can you honestly tell me everyone who is making judgement knows all of their parents monetary affairs.p

Cameron junior owned shares in the offshore £25 million company which he offloaded shortly before becoming PM, I presume he knew he had them!

 

But of course all perfectly legal so no harm done to his reputation eh!

Edited April 13, 2016 by JRDS

[AVB]

Cameron junior owned shares in the offshore £25 million company which he offloaded shortly before becoming PM, I presume he knew he had them!

 

But of course all perfectly legal so no harm done to his reputation eh!

He had £30,000 worth of unit trusts. Not exactly the same as equity shares in a £25mln company that you refer to.

 

All legal, above board and income declared to HMRC. And your point is? Oh you don't have one do you. And what has his ownership of these few units got to do with how his father ran his business?

[12gauge82]

I've got several investments including propertys and shares and I've got to say although some would say I to am in a privileged position (although nothing near Cameron snr), I totally agree the law is wrong, this country is designed along with most of the Western world for the rich to get richer. For the average 20yo to make enough to pay for the basic aspersions in life in the future I.e to support a family and buy a house is almost impossible and it's the privileged few who are mostly to blame. Cameron and the rest of his cronies should hang their heads in shame. The saying pee down people's backs and tell them it's raining springs to mind.

[JRDS]

He had £30,000 worth of unit trusts. Not exactly the same as equity shares in a £25mln company that you refer to.

 

All legal, above board and income declared to HMRC. And your point is? Oh you don't have one do you. And what has his ownership of these few units got to do with how his father ran his business?

 

Which bit did I say that wasn't true and where did I comment on his fathers business accumen??

 

Do you work for the Tory party, you leap to his defence at every opportunity?? To say Cameron is a professional PR man his handling of the situation brought to light by the leaked documents was truly woeful.

Edited April 13, 2016 by JRDS

[AVB]

 

Which bit did I say that wasn't true and where did I comment on his fathers business accumen??

 

Do you work for the Tory party, you leap to his defence at every opportunity?? To say Cameron is a professional PR man his handling of the situation brought to light by the leaked documents was truly woeful.

No I don't work for the Conservatives. However I have a pet hate of people jumping on a bandwagon to suit their own agenda wound up by a hypocritical press.

 

You could argue that the Cameron PR machine didn't handle it well but I am not convinced that whatever he said wouldn't be rounded on by people driven by hatred of the Conservatives, envy of the rich or a general dislike because he is pro Europe. I am in favour of exiting Europe but I don't hold that against Cameron. He at least gave us the referendum that nobody else could or would deliver on.

 

Perhaps you would just come clean on why you dislike him? Is it any of the above or you just dislike politicians?

[keg]

I've got several investments including propertys and shares and I've got to say although some would say I to am in a privileged position (although nothing near Cameron snr), I totally agree the law is wrong, this country is designed along with most of the Western world for the rich to get richer. For the average 20yo to make enough to pay for the basic aspersions in life in the future I.e to support a family and buy a house is almost impossible and it's the privileged few who are mostly to blame. Cameron and the rest of his cronies should hang their heads in shame. The saying pee down people's backs and tell them it's raining springs to mind.

Or is it those that got into the property at the right time on buy to let who are to blame. Who do you blame for the property market? I'm 49 and back in the year when i was 20, I couldn't afford my own place rented or otherwise. When i go t married at 27 and we had two salaries coming in, we managed but things were still tight for a couple of years.

 

Where does it say you have a right to a house and family? It's people's expectations that have changed. It's not so long back that a married couple lived with one set of parents for a while whilst saving.

Edited April 13, 2016 by keg

[keg]

http://www.dailymail.co.uk/news/article-3537799/Cherie-Blair-son-Euan-saved-thousands-tax-buying-string-flats-property-portfolio-controversial-change-stamp-duty.html

 

 

Hasn't taken long, she is such a working class socialist!

[felly100]

The Blairs are doing well aren't they.

[JRDS]

No I don't work for the Conservatives. However I have a pet hate of people jumping on a bandwagon to suit their own agenda wound up by a hypocritical press.

 

You could argue that the Cameron PR machine didn't handle it well but I am not convinced that whatever he said wouldn't be rounded on by people driven by hatred of the Conservatives, envy of the rich or a general dislike because he is pro Europe. I am in favour of exiting Europe but I don't hold that against Cameron. He at least gave us the referendum that nobody else could or would deliver on.

 

Perhaps you would just come clean on why you dislike him? Is it any of the above or you just dislike politicians?

 

Yes I dislike Politicians in the main with a passion in the main self serving *********. Cameron has broken virtually every election pledge his tens of thousands are hundreds of thousands and tax breaks for the married morphed into Gay marriage. If any Politician actually cared about the indigenous people they would be pro Brexit, Farrage is the only one that hasn't betrayed the indigenous voting public. The rich make tax rules to make the rich richer and his family has been making full use which for someone who takes the moral high ground on taxation is a bit bloody rich and I fully appreciate nobody including myself likes paying any tax it is legalised robbery. He offered a referendum because he was sure he would be in another coalition and his partner would block it whilst he took votes from UKIP.

[12gauge82]

Or is it those that got into the property at the right time on buy to let who are to blame. Who do you blame for the property market? I'm 49 and back in the year when i was 20, I couldn't afford my own place rented or otherwise. When i go t married at 27 and we had two salaries coming in, we managed but things were still tight for a couple of years.

 

Where does it say you have a right to a house and family? It's people's expectations that have changed. It's not so long back that a married couple lived with one set of parents for a while whilst saving.

The people who got into the property market at the right time with 10 plus buy to lets etc also tend to be the same people who are bleeding the working class to live a life of luxury. I admit it, I'm part of the problem I've done nothing illegal but it doesn't make it right.

I agree there is no automatic right to owning a house but if two people work full time hours for their entire lives I believe they have a right to expect the possibility of owning a property, currently this isn't possible for some and I have friends in that very position and I feel guilty about it.

I was given a great deal of help from my parents when i reached adulthood and this is what set me up in life financially, money makes money, people who do not understand why the average working Joe is so angry are either lieing to themselves, been born with a silver spoon totally out of touch with reality, or are so selfish because they're okay they just don't care.

My examples apply to people like myself who are very comfy, the super rich are in another league altogether and are the same people who set or influence the laws that protect their wealth, I truly believe if the average Joe knew the full extent of the double standards and legalised corruption this country would have an uprising.

[Dead-Eyed Duck]

I've got several investments including propertys and shares and I've got to say although some would say I to am in a privileged position (although nothing near Cameron snr), I totally agree the law is wrong, this country is designed along with most of the Western world for the rich to get richer. For the average 20yo to make enough to pay for the basic aspersions in life in the future I.e to support a family and buy a house is almost impossible and it's the privileged few who are mostly to blame. Cameron and the rest of his cronies should hang their heads in shame. The saying pee down people's backs and tell them it's raining springs to mind.

 

You are so wrong - house prices are dependant on several factors.

 

For many years house prices were based on the fact that mortgages were solely dependant on 2.5 x the man's salary only. This was when I bought my first house.

 

Then some bright spark (no doubt linked to a building society and after more bonuses) decided that mortgages be linked to 2.5 x the joint salary. Guess what - house prices soared.

 

Then even this limit was erased, and mortgages of up to 120% were allowed - guess what - house prices soared.

 

Very few of today's youth (betraying my age) are prepared to save anymore. They are part of the 'want everything' society, and happily buy everything on tick and damn the consequences.

 

The wife and I didn't even have a washing machine until we had been married for two years, as we didn't want to have any debt. Tell that to todays aspiring house owners 'who cannot afford a mortgage', and see their reaction. They want a house, new car, the latest large screen tv etc., etc., and blame everyone but themselves that they cannot afford a mortgage.

 

I am being simplistic of course, but I am sick and tired of the rich (who have usually worked damned hard to become rich) being blamed by the moaning sector of the working class. The latter description is a joke of course, as by any definition I started off as being very lower working class, and am still proud to say that I am still one of that elite part of society.

Edited April 13, 2016 by Dead-Eyed Duck

[JRDS]

The people who got into the property market at the right time with 10 plus buy to lets etc also tend to be the same people who are bleeding the working class to live a life of luxury. I admit it, I'm part of the problem I've done nothing illegal but it doesn't make it right.

I agree there is no automatic right to owning a house but if two people work full time hours for their entire lives I believe they have a right to expect the possibility of owning a property, currently this isn't possible for some and I have friends in that very position and I feel guilty about it.

I was given a great deal of help from my parents when i reached adulthood and this is what set me up in life financially, money makes money, people who do not understand why the average working Joe is so angry are either lieing to themselves, been born with a silver spoon totally out of touch with reality, or are so selfish because they're okay they just don't care.

My examples apply to people like myself who are very comfy, the super rich are in another league altogether and are the same people who set or influence the laws that protect their wealth, I truly believe if the average Joe knew the full extent of the double standards and legalised corruption this country would have an uprising.

Very honest and well put. I earn 50k or so a year have 2 kids and PAYE and get royally shafted every which way tax wise which is why it is so galling to see the rich making laws for themselves to avoid tax whilst those like myself sat in the middle end up paying for them. Cameron and Osborne are totally disengenous and care not one fig for the plebs just their own agenda which bears no relevance to the well being of the indigenous population.

[12gauge82]

 

You are so wrong - house prices are dependant on several factors.

 

For many years house prices were based on the fact that mortgages were solely dependant on 2.5 x the man's salary only. This was when I bought my first house.

 

Then some bright spark (no doubt linked to a building society and after more bonuses) decided that mortgages be linked to 2.5 x the joint salary. Guess what - house prices soared.

 

Then even this limit was erased, and mortgages of up to 120% were allowed - guess what - house prices soared.

 

Very few of today's youth (betraying my age) are prepared to save anymore. They are part of the 'want everything' society, and happily buy everything on tick and damn the consequences.

 

The wife and I didn't even have a washing machine until we had been married for two years, as we didn't want to have any debt. Tell that to todays aspiring house owners 'who cannot afford a mortgage', and see their reaction. They want a house, new car, the latest large screen tv etc., etc., and blame everyone but themselves that they cannot afford a mortgage

By your own statment the banks and buildings society's greed played a part, as for the latest gadgets flat screen TVs etc most of these items are manufactured by a slave race in China and big companys skim the profit off the top, a TV for instance would once have been produced by a skilled UK worker on a decent wage who would then in turn circulate that money amongst the working class, this is part of the reason I want out of the EU and the super rich want to stay in.

Think about it money is meant to be a representation of an exchange of labour, now take a billionaire/multimillionaire if they worked 24hrs a day 7 days a week 365 days a year for their entire life they would still not produce a billion pounds worth of labour.

Like you I'm in a privileged position, the line of work I chose means my friends are all working class and I can see it from both sides, this country needs change and it is the rich and powerful who are forcing most working class people into a life of virtual slavery.

Edited April 13, 2016 by 12gauge82

[toontastic]

Very honest and well put. I earn 50k or so a year have 2 kids and PAYE and get royally shafted every which way tax wise which is why it is so galling to see the rich making laws for themselves to avoid tax whilst those like myself sat in the middle end up paying for them. Cameron and Osborne are totally disengenous and care not one fig for the plebs just their own agenda which bears no relevance to the well being of the indigenous population.

50k a year well Whoopi for you, suppose you have a pension, an isa and own your own home. Perhaps you may even pass on an inheritance to your kids. To me you're no better than the rest of the wealthy.