In June 2012 Comedian ,Jimmy Carr's involvement in an alleged K2 tax avoidance scheme came to light after an investigation by The Times newspaper] The scheme is understood to involve UK earners "quitting" their job and signing new employment contracts with offshore shell companies based in the low tax jurisdiction of Jersey.
British Prime Minister David Cameron commented on the issue:
"People work hard, they pay their taxes, they save up to go to one of his shows. They buy the tickets. He is taking the money from those tickets and he, as far as I can see, is putting all of that into some very dodgy tax avoiding schemes.
Carr has since pulled out of the scheme, apologising for "a terrible error of judgement"
The prime minister's father, Ian Cameron, who died in 2010, was a client of Panamanian law firm Mossack Fonseca. Millions of documents detailing the firm's work shielding wealthy individuals' money from tax have been leaked to the international media.
Ian Cameron, an affluent stockbroker, put money into Blairmore Holdings, which did not pay British tax.
There have been days of headlines about Blairmore Holdings - a fund for investors which until 2006 used "bearer shares" to protect its clients' privacy - following the leak of 11 million documents held by Panama-based law firm Mossack Fonseca.
They show that Mr Cameron's father, Ian, was one of five UK directors who flew to board meetings in the Bahamas or Switzerland.
Of course it seems Cameron denouncement only applies to the likes of Jimmy Carr and other media nationalities.
Cameron's family and friends deserve anonymity when they are involved in "very dodgy tax avoiding schemes".
After days of headlines about his family's financial affairs, British Prime Minister David Cameron acknowledged Thursday that he profited from shares in an offshore firm set up by his father.
Cameron told ITV news that he and his wife, Samantha, sold shares worth 31,500 pounds (currently $44,300) in an offshore fund named Blairmore Holdings in January 2010 — five months before Cameron became prime minister. They had paid 12,497 pounds for the shares in 1997. Cameron said the money was subject to British tax "in the normal ways."
He said he sold his shares because he did not want anyone to accuse him of having "vested interests."
After days of headlines about his family's financial affairs, British Prime Minister David Cameron acknowledged Thursday that he profited from shares in an offshore firm set up by his father.
Cameron told ITV news that he and his wife, Samantha, sold shares worth 31,500 pounds (currently $44,300) in an offshore fund named Blairmore Holdings in January 2010 — five months before Cameron became prime minister. They had paid 12,497 pounds for the shares in 1997. Cameron said the money was subject to British tax "in the normal ways."
He said he sold his shares because he did not want anyone to accuse him of having "vested interests."
Well good for him ,But a cynic would argue that he didn't want the embarrassment of it being found out.
- Asked on Monday whether she could confirm that no family money was still invested in the fund, Mr Cameron's spokeswoman said: "That is a private matter
- Then in an interview on Tuesday, Mr Cameron said: " I have no shares, no offshore trusts, no offshore funds, nothing like that. And, so that, I think, is a very clear description"
- Downing Street issued a statement later that day: "To be clear, the prime minister, his wife and their children do not benefit from any offshore funds. The prime minister owns no shares. As has been previously reported, Mrs Cameron owns a small number of shares connected to her father's land, which she declares on her tax return"
- No 10 then released a further clarifying statement on Wednesday, saying: "There are no offshore funds/trusts which the prime minister, Mrs Cameron or their children will benefit from in future"
- On Thursday the PM told ITV News: "We owned 5,000 units in Blairmore Investment Trust, which we sold in January 2010"
The prime minister's father, Ian Cameron, who died in 2010, was a client of Panamanian law firm Mossack Fonseca. Millions of documents detailing the firm's work shielding wealthy individuals' money from tax have been leaked to the international media.
Ian Cameron, an affluent stockbroker, put money into Blairmore Holdings, which did not pay British tax.
There have been days of headlines about Blairmore Holdings - a fund for investors which until 2006 used "bearer shares" to protect its clients' privacy - following the leak of 11 million documents held by Panama-based law firm Mossack Fonseca.
They show that Mr Cameron's father, Ian, was one of five UK directors who flew to board meetings in the Bahamas or Switzerland.
Although no one can be responsible if unknown to them a family member does something illegal or as in the above cases of Jimmy Carr and Cameron snr considered by us ordinary mortals as "very dodgy tax avoiding schemes".
It is interesting however the disclosures have not highlighted many UK figures is this because there was not much involvement or could it be that there's an a number of Media Persons involved and there's a conspiracy not to report on each others failings
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