This Cameron non-story

[barrydidit]

In taxation terms there is something very morally wrong if your AFTER-TAX income is subject to further tax e.g. if you give it your kids and die within 7 years.
The state has some call on your GROSS income since it protects you and benefits society.
But once you have paid your fair share, be that what it is, there should be no further call on that money.

The guy on R4 this morning said that was nonsense. He said the nature of money changes over time and that in the same was as you wouldn't take taxed money to the pub, buy a pint and expect the landlord to pay no further tax on it, then the same applies to inheritance.

He annoyed me somewhat.

[BlasterBates]

Companies are a whole other issue. I'm talking about individuals.

Absolutely and it's far more complicated than people think.

Google and Starbucks are US companies that have set up companies in tax havens with marketing assets that are not from the UK. These are US assets.

It will be very difficult to legislate against Starbucks and Google without US retaliation.

[barrydidit]

I disagree here because Cameron didn't avoid any tax and no-one has suggested he has.

You can invest your money wherever you want as long as you declare it, and he did. I see no hypocrisy.

There is no a single country where you can't do that. I see no comparison to tax evasion or dodgy schemes, none whatsoever.

I said he hadn't done anything wrong investment-wise. He's fluffed it politically by looking as though he's been up to something wrong. Your average Joe might have picked up something about leaks, Cameron and offshore funds, that'll be about it.

[sasguru]

I said he hadn't done anything wrong investment-wise. He's fluffed it politically by looking as though he's been up to something wrong. Your average Joe might have picked up something about leaks, Cameron and offshore funds, that'll be about it.

It seems to have taken in quite a few on CUK

[BlasterBates]

I said he hadn't done anything wrong investment-wise. He's fluffed it politically by looking as though he's been up to something wrong. Your average Joe might have picked up something about leaks, Cameron and offshore funds, that'll be about it.

I agree he messed up, should have been straight up when asked the question, as he had nothing to hide.

[GB9]

One of the posters on the BBC website used the term 'that toff Cameron' and that's what it really comes down to. The socialists don't like him because he's a toff.

As others have said, that odious woman Hodge is far richer.

[flamel]

Do you have a pension at all?
If you do there's a high chance some of your money is invested in an investment trust in Panama.
Financial and management companies set up there for all sorts of reasons including low taxes on profits on their investments - that means you get to keep more of the money your pension makes.

Yes agreed - I have no influence over the investment strategy of my pension fund, nor if I bought into Unit Trusts. I do believe that Cameron's Dad had control over his own fund though which is quite different. So although I believe DC has done nothing wrong other than benefit from funds accumulated under a dodgy tax avoiding overseas investment trust. Which means he's quite rich because of inherited wealth. From Panama.

[sasguru]

Yes agreed - I have no influence over the investment strategy of my pension fund, nor if I bought into Unit Trusts. I do believe that Cameron's Dad had control over his own fund though which is quite different. So although I believe DC has done nothing wrong other than benefit from funds accumulated under a dodgy tax avoiding overseas investment trust. Which means he's quite rich because of inherited wealth. From Panama.

"Dodgy" in what way? Were any laws broken? If so you'd have to arrest all the directors of investment vehicles that currently are incorporated offshore.
And if you put enough in your pension, eventually you'll be quite rich from money invested in Panama.
Now you know how it works, to avoid accusations of hypocrisy, you'd better move your money into a pension that invests only in the UK based companies. Good luck with your dotage, in that case.

[Unix]

Based on the information released so far he has done nothing wrong. However he made it look worse by drip releasing the info. He won't be resigning and this will blow over in a week. What may happen though from all this is some other MP's may become collateral damage when they reveal their dodgy accounts. (i.e. Gideon)

[sasguru]

Based on the information released so far he has done nothing wrong. However he made it look worse by drip releasing the info. He won't be resigning and this will blow over in a week. What may happen though from all this is some other MP's may become collateral damage when they reveal their dodgy accounts.

So some good will come of it.
Quite a few of the dodgy ones are not Conservative "toffs"