Could Cameron's offshore deals be the end?

[Rodo]

Why should he be guilty, and guilty of what?

[Workingman]

Cameron was not campaigning against companies or individuals, he was campaigning against tax avoidance and tax evasion having previously benefited from one of them himself.

Some Cameron quotes on the matter:

"One of the things that we are going to be looking at this year is whether there should be a general anti-avoidance power that HMRC can use, particularly with very wealthy individuals and with the bigger companies, to make sure they pay their fair share.”

"Some of these schemes we have seen are quite frankly morally wrong."

"For too long a small minority have hidden their business dealings behind a complicated web of shell companies - and this cloak of secrecy has fuelled all manner of questionable practices and downright illegality."

"Tackling tax evasion and aggressive tax avoidance and tax planning is an important part of our long-term economic plan."

Talk about being a hypocrite. That is why he is under the spotlight.

[Suff]

You made the point for me.

"For too long a small minority have hidden their business dealings behind a complicated web of shell companies - and this cloak of secrecy has fuelled all manner of questionable practices and downright illegality."

The extremely wealthy use businesses to hide that wealth. Nobody in the 20M+ bracket keeps their core wealth personal. Taxes in dividend, sure. Principal in the shares? Not a chance.

He's not talking about personal tax except where extreme avoidance comes in. The media people were earning under £1m per year but had extreme issues with handing half a million a year to the tax man. I'd have the same issue.

[Workingman]

Let me be clear: I have not accused him of doing anything illegal, nor have I asked for him to resign.

What I and many others are suspicious of is that having benefited from the scheme he sold his units at the right time, politically and financially, in order to have a clean pair of hands before going on his tax avoidance/evasion crusade. I couldn't give a monkey's about core incomes, core wealth or pocket money, what I care about is having a PM who I can trust.

That trust has gone, and not just for me. It has gone at a time when he, Cameron, should be spending every minute, but not taxpayer's cash, on the referendum. Had it not been for the leaked Panama papers he would never have said a dickey bird.

There are now also questions being asked about whether he disclosed his units to the register of MPs interests.

All that shuffling you can hear is the Establishment closing ranks.

[Suff]

Mark Twain > Quotes > Quotable Quote
Mark Twain

“I once sent a dozen of my friends a telegram saying 'flee at once - all is discovered.' They all left town immediately.”

[Workingman]

Did anybody see the Cameron/Panama protests at Downing Street today?

No, of course not, the "news" channels did not show them.

Try the Independent, Metro, or Mirror.

[Suff]

So perhaps we can lay this to rest now.

Let's put this in context. Cherie Blair earned more and the Blairs used very aggressive tax avoidance.

Looking at the results here, Cameron is somewhere in the upper middle class in terms of income and return on investment. I note that his mother paid him two £100,000 payments to balance the fact that his siblings seem to have received more from his fathers will than he did.

Hardly the stuff of billionaires hiding huge sums of cash or an avoidance agenda. More prudent fiscal action. Something this country has been seeing in government since 2010.

I have my issues with Cameron but sleazy personal going's on? Not on my gripe list.

Let's put this in perspective. I've taken home more than him in years gone by and it doesn't make me some toff who doesn't know about how the other half lives. The press really get me on this. They fawned all over Blair who's the biggest money hungry sleazeball; who will probably have more money than Cameron is ever likely to see in his life. Yet the press give him a free ride to this day.

Oh and Corbyn is left struggling to catch up and release his own records. Having spent a significant amount of time insinuating that Cameron is two faced about his tax dealings.

And on a final note....

the variations in the taxable amount came through the way his pension contributions were treated and the different approaches taken to the £20,000 tax-free allowance.

The prime minister voluntarily cancelled out the allowance by declaring the equivalent amount as taxable income between 2011-12 and 2013-14 before waiving it entirely from 2014-15.

So, good as his word, he did not take all the allowances available to him. To move, yes, every year? No. Also the press likes to forget that Sam took one look at the #10 kitchen and decided it was impossible and replaced it. Mainly with their own cash as the £30,000 grant for the living spaces would never have covered that along with the rewiring, plumbing and decoration that was done.

[Workingman]

It has nothing to do with the Blairs, billionaires, companies or how rich he is when compared to the ordinary man. It is about what he was saying and what he was doing and what he and his family have done with his "income" outside of that of the public purse as MP and PM.

He and Sam sold their units in Blairmore at just below Capital Gains tax threshold just before he became PM. His dying father, knowing full well what he was doing, left him an inheritance just below Inheritance tax threshold, then his mum 'gifted' him two payments of £100,000 hoping that she would live for seven years more.

Cameron then went on a Crusade against tax evasion and avoidance while minimalising his own tax liabilities. Or, as one tax expert put it, one man's clever use of the tax system is another man's tax avoidance.

These are the reasons Cameron is under the spotlight. When it comes to personal tax he is the arch hypocrite.

[Suff]

I did say Core income and I said it for a very specific reason. The money used to create these investments was tax paid.

Then, also, he paid tax on all the dividends paid until he sold up.

The capital gains he avoided, was minimal and is open to everyone. With a threshold of around £10,600 per person, it's peanuts when talking about tax avoidance. In fact, the morning star does a piece on why people should be using it. However they explain why it doesn't work for everyone.

In fact what they explain is exactly what happened with Cameron. Every year he paid the tax on the dividend until he decided to sell up. Then he got his tax dividend which is available to everyone. The fact that everyone does not use it is not Cameron's fault.

The number of ways this government has closed down tax loopholes is legion and compared to the last shower that were in Government, very un Tory. This is part of the Austerity, closing the tax loopholes and increasing revenue through encouraging taxable income into the UK by lowering the higher tax levels.

But of course that's all wrong and a bad thing an double standards isn't it???

The laws governing this kind of taxation are very arcane and the press simply refuse to understand them. Stirring up trouble and trying to bring down a leader. It's not going to work.

However it might just precipitate what George Osborne talked about doing in the last government, namely removing CGT altogether. You know the good thing that will net people huge sums of money when selling second homes or receiving wealth in a will, but will cost the country, figuratively, "peanuts".

Had Osborne done that in the first government, this tempest in a thimble would not even have had the slightest bit of traction.

[KateLMead]

I wonder how many more of them are guilty.

The majority I would think Aggers. They are all crooked. Corbynhowever is supposedly as clean as a whistle. But trust him NEVER.