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David Cameron and another tax dodge - this time it is £200,000: taxes are for little people

Tom Winnifrith
Sunday 10 April 2016

In order to persuade us all that he has done nothing wrong David Cameron has published his tax papers going back to 2009. The only problem is that they demonstrate explicitly that he avoided paying tax ( £70,000of tax) by a legal sleight of hand. You and I would not only have not known about that trick but also not been in line to inherit the sort of vast sums that Cameron and his sisters inherited. We are the little people. We pay taxes at normal rates.

Cameron's old man left him £300,000 direct. That woukd be £300,000 of money from the Blairmore Trust where returns were increased by not having to pay tax becuase it was based offshore. And that money went to Call Me Dave tax free.
Most of Cameron's old man's cash went to Cameron's mum ( that would also be offshore cash as per the Panama Papers).

A few months after CMD picked up the £300,000 ( tax free because it was under the £325,000 IHT exemption limit), Mrs Cameron senior handed CMD £200,000 - since she did not work you can assume that is the cash from Cameron pere - as a gift. So that will be tax free as well. By this slight of hand an additional £200,000 of offshore money passes from Cameron senior to CMD without him paying any tax on cash ( which is inflated in size becuase it was held in a tax haven).

David Cameron has not broken the law. But how many folks in the UK get to inherit £500,000 tax free from funds boosted because they were held in a tax haven based offshore trust? Only the uber-rich can dodge tax in such a way. Tax is for little people, the 99% and, I sense, that many of us have had enough of paying so much and being lectured by the spivvy elite who avoid tax in a way we could not aford to do and then lecture us about how we are all in it together.

What is not to despise about David Cameron?

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About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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