Cameron Tax Dodger

princeofpounds

Anyone else getting rather bored by the media approach to this issue?

To anyone who has a shred of financial knowledge this is a non-story, yet the BBC in particular have been banging on about this in a if-smoke-then-fire fashion.

But what is he actually supposed to have done?

1. Bought some shares in an investment trust. Sold shares. Paid tax on dividends, capital gains below the limit.

Pretty much anyone who has a pension will be chock-full of investment funds incorporated offshore, most commonly luxembourg or dublin, but often other nice places like jersey or cayman.

2. Received a chunky gift from his mother. Something parents and grandparents do all the time.

Yes, it is IHT-exempt if she lives for seven years beyond the date of the gift. As it would be for any gift from parent to child. Do we want to start taxing gifts?

So it turns out, with the publication of his tax returns in particular, that this whole episode has been rather meaningless.
And yet you still have people like Corbyn and Watson talking about him 'losing the trust of the population' etc. I can't decide if they are just ignorant or cynical.

Generali

https://principlesandinterest.wordpress.com/2016/04/09/my-daughters-political-career-is-already-over/

Unwittingly, I may have killed my 8yo’s prospects of a political career even before she could even say Hard Working Families. How? Well when she was born Gordon Brown was giving out money to babies in the form of Child Trust Funds. I did the paperwork and put the money into the most unimaginative thing possible – a cheap FTSE100 tracker fund, with the idea that I would think more about where it should be invested at a later time.

What’s the problem? Well, in short, this:

michaels

Of course yesterday's headline on the BBC all day was that he had received a gift from his mum. Mr G, have you also given any gifts to your children at any point?

Obviously this story is a continuation of the Brexit campaign tactic of playing the man not the ball - ie trying to make the govt unpopular so people vote against the govt in the referendum which is why the Guardian/Observer are having little to do with it so the big question is why is their sister organization the BBC hyping it up?

Generali

michaels wrote: »

Of course yesterday's headline on the BBC all day was that he had received a gift from his mum. Mr G, have you also given any gifts to your children at any point?

Obviously this story is a continuation of the Brexit campaign tactic of playing the man not the ball - ie trying to make the govt unpopular so people vote against the govt in the referendum which is why the Guardian/Observer are having little to do with it so the big question is why is their sister organization the BBC hyping it up?

Mr Cameron must be mightily aggrieved about the offshore thing as he hasn't done anything wrong.


Rich bloke invests some money and pays tax on it.

Rich bloke's rich dad dies and his mum gives him some of the inheritance.

It's hardly news is it.

chucknorris

Generali wrote: »

https://principlesandinterest.wordpress.com/2016/04/09/my-daughters-political-career-is-already-over/

How is that a problem Gen? (Genuine question, not sarcastic). My Vanguard VUKE (ftse 100 ETF tracker) is domiciled in Ireland, there is a section of the self assessment tax return i.e. the 'Foreign' supplement, where you can enter income from this.

Generali

chucknorris wrote: »

How is that a problem Gen? (Genuine question, not sarcastic). My Vanguard VUKE (ftse 100 ETF tracker) is domiciled in Ireland, there is a section of the self assessment tax return i.e. the 'Foreign' supplement, where you can enter income from this.

I think the writer is being sarcastic. He invested in an offshore-based fund for his daughter which, according to the press, appears to mean that she is disbarred from entering politics.

chucknorris

Generali wrote: »

I think the writer is being sarcastic. He invested in an offshore-based fund for his daughter which, according to the press, appears to mean that she is disbarred from entering politics.

Good, it was the first year that we filled in the 'Foreign' supplement of the tax return, so I just wanted to check that there wasn't an issue that needed addressing, I didn't think that there was, but better safe than sorry.

Tromking

'Call Me Dave' is guilty of naught but rank hypocrisy. Hence his difficulty in getting this of the front pages and moving on. Cameron`s displays of deep uncomfortableness this past week has been a joy.

mwpt

Tromking wrote: »

'Call Me Dave' is guilty of naught but rank hypocrisy. Hence his difficulty in getting this of the front pages and moving on. Cameron`s displays of deep uncomfortableness this past week has been a joy.

Where is the hypocrisy?

Generali

Tromking wrote: »

'Call Me Dave' is guilty of naught but rank hypocrisy.

Rubbish. Utter rubbish.

Tromking

Cameron spent the first week of this whole saga batting off enquiries not because he`d done anything illegal but because he feared being accused of hypocrisy. Private citizens not in public office can be hypocrites, politicians who've previously gobbed off about the moral repugnance of tax avoidance can't.