David Cameron has to resign.

[PirateSmile]

If there is any evidence he has had even one penny of benefit from his father's dodgy tax arrangement, surely Cameron has to go?
He's saying 'it's a private matter' whilst presumably working on his notes for next month's conference on cracking down on such tax scams. You really couldn't make it up. He will no doubt plead ignorance but that's no defence. He is the PM. He should know he's benefiting from is essentially large scale fraud.
Are we really going to let him get away with this?

ISA's aren't abusive; they are intended in law to give a tax advantage.

There are plenty of similar examples; capital allowances, spousal transfers at nil gain/nil loss, rollover relief, entrepreneurs relief. These are legitimate ways of reducing your tax bill and avoiding tax that are endorsed by the government for policy reasons - for example, rollover relief encourages onward investment. ISA's encourage savings and investment etc,

So there is plenty of 'good' tax avoidance out there.

For me, the difference is where a situation is very artificially created to secure a tax advantage without sound commercial reasons for such an arrangement other than the avoidance of tax - this is what needs to be looked at.

Breaking news says that the Camerons won't benefit from offshore trusts in the future. To my mind, that suggests that they may have done in the past.

I wonder who's currently benefiting? Will Cameron's mother be investigated?

As mentioned previously I think it would be too risky for DC to say categorically that none of his family have benefitted from offshore trusts, where do you draw the line wrt definition of 'family' and in terms of time? Just begging for dirt to be dug up and waved in contradiction.

We all knew DC was from a wealthy background. I don't understand the outrage and shock. We all knew he was going to help the wealthy not the average person. My only guess is tory voters fell for a con they were somehow part of his club and are realising now they are not part of his club.

From what I've heard he received £300,000 from his dad's estate on his death. Obviously a substantial amount of money but not hugely significant to DC.

Can't see why he would 'investigate' where it came from. How could he? Especially as he was grieving (or is he not allowed normal feelings?)

No he is not responsible for his fathers tax affairs any more than I would be if my father turned out to be a criminal (which he isn't).

I feel sorry for Cameron over this. I have no idea what my parents' investments are, and there is no inference that Cameron senior broke the law when investing. I can't see how he's responsible for any of it, and his father isn't alive any more anyway.

It's just Comrade Corbyn and his deep hatred of anyone who has savings/investments.

If you make tax laws that encourage people to evade tax then sort the laws out.

booming - you make it sound so simple

If people have benefited from lifetime gifts from parents etc and the parents survived for 7 years after making the gift, thereby avoiding inheritance tax, should the donees be paying this tax now, because although legal it is morally wrong as the gift was simply made for the purpose of avoiding death duties later?

This by the way is something that all people are advised to do to try and reduce inheritance tax not just the filthy rich.

So if David Cameron(DC) had received a gift from his father (and something completely not related to offshore trusts) in his father's lifetime and it was exempt from inheritance tax due to his father living a further 7 years, are the people, who are arguing that DC is culpable for his dad's (legal) investments, believe that DC should pay the inheritance tax that was "avoided"?

It's not too much to ask that a prime minister is squeaky clean in terms of his tax affairs. And that includes complying with the spirit of the law as well as the letter.

It's wrong to hold him responsible for any tax indiscretions committed by his father, but it's not wrong to expect senior government ministers to ensure that their tax arrangements, including those concerning any inherited funds, are beyond reproach.

Whether you like it or not DC is squeaky clean with his tax affairs (unless you or anyone can prove otherwise?)

He has stayed within the letter and the spirit of the law. He can't be responsible for other family members or for his second cousin twice removed.

What a storm in a teacup. Whipped up class sentiment by Jeremy Corbyn who should learn from history if he doesn't want to repeat it. I am referring to nationalising industries and handing power over to trade unions. All of which brought the country to its knees. It's far from perfect now but being one of the strongest world economies instead of the sick man of Europe has got to mean something.

dragon I am just trying to work out when someone's moral compass would kick in when its comes to tax avoidance schemes. Are they wrong if they involve other countries, complicated schemes? Potentially exempt transfers could result in saving £'000s of inheritance tax, is that not wrong?

Can't imagine there are many people who like paying tax, and if there is a legal way to reduce your tax bill would not most people think about it?

What I would suspect is that any tax dodging money of Camerons is under a different name.
If the money is in his fathers name but his father has passed away, I hope it's now all gone through probate and tax correctly paid including inheritance tax?
I'm sure whatever has happened will become clear and Cameton will be resigning.

I'd love to know how many of us are fully conversant with their parental tax affairs? I have no idea and I suspect most people are the same.

Corbyn's call for an inquiry into "every British person" really means "let's see if we can get Cameron", it's a shame he can't be a bit more open about what he really wants.

I think Corbyn is the most open politician we've had.
So what if he wants to get Cameron? He only wants to get him if he's done something wrong? If he hasn't done a thing wrong, what's the problem?
How does a thread about tax havens become an opportunity to knock Corbyn?

I think Corbyn is the most open politician we've had.

If that is the case then he should lead by example and let all of his families financial affairs be probed also

Is Corbyn trying to hide anything?

Is Corbyn trying to hide anything?

Who knows what financial arrangements he and his family have? The same as you don't know anyone's.

If it is transparency people want then it should be for everyone, all MPs and their families.

Corbyn has already published his tax details and is asking Cameron to do the same.
I can't believe there are people defending the lying greedy hypocrite Cameron.
How many things can he get away with and yet people still turn on Corbyn who I would put my life that he wouldn't tax avoid or misuse public money but could you say the same for Cameron?

I don't think Corbyn is denying that?

My last post was for shut

Cameron's father was in the tax avoidance business for 30 years. Was Corbyn even an MP in 1980? The Telegraph was rather critical of Cameron's slowness to answer questions about his own tax affairs, and they are no friends of Corbyn.