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?

Jeremy Corybn wants ALL MPs to publish their tax returns!

No wonder he is hated by the old boy MPs , a lot of MPs (inc Labour) will be wanting Corbyn not to push this.

All the jokes from the Tories about Corbyn being a joke, they are actually scared of him and what he wants to do.

Corbin is right. All MP's should do it. Lords too. I don't know why the Lords should be exempt. Their positions are even less transparent as they are not democratically voted in, yet are one part of the legislature. Public should at least have some scrutiny wrt who is governing them and effecting legislation 'for the little people'. Maybe the very legislation that allows ways for the moneyed to stash stuff away perfectly legitimately.

Can it really be true the Barclay bros have really sussed a way for their Ritz hotel to have been exempt from paying corporation tax for the last 17 years? As they reside in the tax haven of Monaco, 'for health reasons'.

Maybe the real problem for most people or for the media which influences public opinion isn't the fact that this maybe widespread. If it was about the principle of the thing it would be taking in a lot more than DC and the gaze isn't wandering much further than DC. Maybe the issue isn't anything other than to oust DC.

Of course it suits those with particular agenda to agitate a mob of public to their specific focus. No root and branch here.

oops changed Corbyn to Corbin.

Not sure anyone wants to open the Lords' can of worms...

Corbyn is stooping to the type of mud slinging politics he supposedly despises.

DC has done nothing wrong however much he bangs on about it.

It's about time Corbyn shuts up and starts talking about things that actually matter.

As for DCs mothers gift. Isn't this normal practice to give money to your children? It's something I intend to do as I'd rather mine were able to buy their own homes rather than let the taxman have income which has already had tax collected on it.

I think Corbyn wants the rich tax dodgers on each side to stop.

I think it would be quite interesting to see the tax returns of some of the journalists to see what tax schemes they use

May I also see Tony Blair's tax statement please. And Corbyn's (and that of Corbyn's parents).

I don't get people getting up in their arms with the whole gifting thing. A large proportion of first home buyers get help from their parents. It's basically the same thing - but Cameron's parents are just richer than most.

Only 3% of UK estates attract IHT. That 3% are the only ones who need bother themselves with potentially exempt transfers when passing on gifts. The other 97% I think have every right to be concerned about government ministers who seem to have no understanding of the impact of cuts to benefits and services while clearly having an in depth knowledge of the impact of tax cuts and CGT and IHT mitigation mechanisms.

I fail to see what DC did wrong. He invested in a foreign company, declared his income from it, and paid tax due... Are we not allowed to invest in any companies that are not 100% UK-based, and only then after we've scrutinized their tax affairs to ensure they haven't used capital allowances of such like to their advantage? Don't people realize their pension funds (including those in public sector jobs and members of the LGPS) will be investing in a wide portfolio of stocks which will inevitably include firms with some foreign ownership whose tax affairs have been managed by tax accountants?

The people castigating DC for this are:
either those who know full well that this is a non-issue and cynically pushing it knowing that many are generally ignorant of tax issues and will gleefully jump on any bandwagon that 'bashes the Tories' or those campaigning against a Brexit,
or those who themselves are highly ignorant of how tax works and should inform themselves before pontificating on something they know nothing about!

Only 3% of UK estates attract IHT. .... because many others will have gifted enough to remain below the threshold! Gifting to avoid IHT is not some ruse of a malevolent tax accountant whose cleverly found a loophole in the rules, they are clearly stated within the rules!.... And besides, its DC's mother who paid him. What on earth would you anyone expect him to do! "Sorry, mother, but don't you realize that if you live for more than seven years after you've given me that you won't be taxed on it, so no, keep I refuse it your money!" I think some people, in their hatred for the Tories, seem to want to clutch at any straw, however pathetic, when really they should be focusing on the real issues affecting the country!

Agree with you Flashbangandgone

I expect all these naysayers to never gift their children money...

This is a real issue affecting the country , rich MPs who think they can do whatever they want whilst cutting support and demonising the poor.

what exactly do you mean by 'do whatever they want' though arrested He's severely cocked up communication of it but it's pretty clear that DC hasn't actually 'done' anything!

No body can be responsible for the actions of there parents, nothing has been done that is illegal by the PM or his father, just wise financial planing.
Sounds like a lot of very spiteful anti PM people jumping on the band wagon.
Lets wait and see what out comes there are on this before disrespecting a deceased parent and slurring the reputation of the PM and his family.

If he were a man of integrity, he would give the amount he gained on the sale to a charity. He hasn't even suggested that he might do that. So......

"Only 3% of UK estates attract IHT. .... because many others will have gifted enough to remain below the threshold!"

I don't think so. Even within the top 10% of HH by wealth the median is £900k with half of assets within pension funds. No need for IHT planning for the vast majority of the top 10% let alone the bottom 90%.

The thing is he wasnt just above board but it would appear scrupulously so. Every penny declared and tax paid, further he has waived the 20k tax free allowance (all PMs have had a set tax free allowance since 1947 as set by Clement Attlee, increased to 20k by Anthony Blair) so in fact will pay a stack of extra tax.

As above- he hasn't done anything, not even done something shady. He bought some shares in 1997, he sold them in 2010. Paid tax on the income and didn't make enough when he sold them to have to pay CGT.

Most people don't pay IHT because they avail of the provision of legally being exempted from paying tax under a certain amount. So they legally are allowed to dodge paying tax. Just like DC's mother availed of the provision allowing her to give her son a gift under a certain amount tax free (if she remains alive a certain amount of time after bestowing it). If one legal provision is dodgy then all other tax exemptions are dodgy too.

Maybe people shouldn't avail of their tax free allowance wrt income. They are dodging tax by availing of this as much as DC's mother is by availing of the provision for gifting her child.

I'm sure all the revenue will be inundated with principled people wanting to pay tax on every single penny of their salary, no exceptions, allowances or exemptions dodging this, even if allowed.

Maybe with everyone complaining about how horrendous it is that DC has "avoided" paying IHT and how immoral it is, he will revoke the IHT allowances and exemptions so everyone can enjoy the luxury of paying IHT. Bet there won't be any complaints if he does that!

If he were a man of integrity, he would give the amount he gained on the sale to a charity. He hasn't even suggested that he might do that. So......

why would he give it to charity? HE HASNT DODGED ANY TAX.

are some people really too stupid to understand he hasn't done anything wrong? even after he has made his tax return available and shown he has paid more tax than he legally had to he I cant believe people think he has done something dodgy - unlike the guardian newspaper who has avoided tax?

why isn't there a thread telling people to abandon reading the guardian? that theyre a bunch of shysters, they should resign from the paper etc. etc. why isn't there a thread calling for miliband to resign? hmm... I wonder.

Also, the UK voted the Conservative party in. When I say the UK, of course with the overwhelmingly larger population, England voted the Conservative party in preference to all others and this holds sway. Wales, Scotland and NI are fairly much recipients of whatever government that England votes for as they are not given any extra weighting to take the enormous population difference into account and England's choice will be the deciding factor.

All those people who turned away from the Lib Dems and voted conservative have exactly what they voted for. It is a bit rich to now complain about the party they voted for and it's socio economic policies.

pangurban you said

legally are allowed to dodge paying tax.

You can't DODGE paying something that is NOT PAYABLE

You would have been more accurate to say "not paid a sum that is not in fact payable until certain very clearly set out events occur within a given timescale"