Post by Soutpeel on Apr 8, 2016 8:16:14 GMT 7
Panama Papers: David Cameron admits profiting from fund
British Prime Minister David Cameron has admitted he benefitted from the offshore investment fund set up by his late father.
After days of pressure following the publication of the Panama Papers leak, Cameron said on Thursday he owned a stake in the Blairmore trust, which he sold in 2010 four months before taking office.
"We owned 5,000 units in Blairmore Investment Trust, which we sold in January 2010. That was worth something like £30,000 ($42,000)," Cameron told Britain's ITV television.
"I sold them all in 2010, because if I was going to become prime minister, I didn't want anyone to say you have other agendas, vested interests," the Conservative leader added.
"I paid income tax on the dividends. There was a profit on it but it was less than the capital gains tax allowance, so I didn't pay capital gains tax."
www.aljazeera.com/news/2016/04/panama-papers-david-cameron-admits-profiting-fund-160407183657987.html
British Prime Minister David Cameron has admitted he benefitted from the offshore investment fund set up by his late father.
After days of pressure following the publication of the Panama Papers leak, Cameron said on Thursday he owned a stake in the Blairmore trust, which he sold in 2010 four months before taking office.
"We owned 5,000 units in Blairmore Investment Trust, which we sold in January 2010. That was worth something like £30,000 ($42,000)," Cameron told Britain's ITV television.
"I sold them all in 2010, because if I was going to become prime minister, I didn't want anyone to say you have other agendas, vested interests," the Conservative leader added.
"I paid income tax on the dividends. There was a profit on it but it was less than the capital gains tax allowance, so I didn't pay capital gains tax."
www.aljazeera.com/news/2016/04/panama-papers-david-cameron-admits-profiting-fund-160407183657987.html
