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| Cameron releases tax returns information amid row | Cameron releases tax returns information amid row |
| (about 2 hours later) | |
| David Cameron paid almost £76,000 in tax on an income of more than £200,000 in 2014-15, figures released by the prime minister have shown. | David Cameron paid almost £76,000 in tax on an income of more than £200,000 in 2014-15, figures released by the prime minister have shown. |
| He earned £46,899 in rent on the London family home, the first such papers released by a UK prime minister reveal. | He earned £46,899 in rent on the London family home, the first such papers released by a UK prime minister reveal. |
| They show he inherited £300,000 when his father died, and the next year was given two payments of £100,000 by his mother to balance out the legacy. | They show he inherited £300,000 when his father died, and the next year was given two payments of £100,000 by his mother to balance out the legacy. |
| Mr Cameron announced a new task force to investigate tax-dodging allegations. | Mr Cameron announced a new task force to investigate tax-dodging allegations. |
| Labour leader Jeremy Corbyn said the matter highlighted "a whole ethos" and how the very wealthy handled their tax affairs, adding he would publish his own tax return "very, very soon". | |
| On Saturday, the prime minister admitted he could have better handled the row over his financial affairs. | On Saturday, the prime minister admitted he could have better handled the row over his financial affairs. |
| "Don't blame Number 10 Downing Street or nameless advisers, blame me," he said. | |
| 'Not a great week' | 'Not a great week' |
| This followed a week of questions and successive statements over whether Mr Cameron had owned and sold units in an offshore fund run by his late father, Ian Cameron. | This followed a week of questions and successive statements over whether Mr Cameron had owned and sold units in an offshore fund run by his late father, Ian Cameron. |
| Details of the Blairmore Holdings fund had been contained in a leak of 11 million documents, known as the Panama Papers. | Details of the Blairmore Holdings fund had been contained in a leak of 11 million documents, known as the Panama Papers. |
| The figures released by the prime minister show: | The figures released by the prime minister show: |
| The PM said he was publishing the information to be "completely open and transparent" about his financial affairs. | The PM said he was publishing the information to be "completely open and transparent" about his financial affairs. |
| Solicitor Robert Levy, who specialises in tax affairs, told the BBC there was nothing in the tax returns that made him "raise his eyebrows". | |
| On the matter of the two £100,000 gifts from Mr Cameron's mother, Mr Levy said: "It's not unusual for parents to make gifts to children. It's just the figures here are larger than they might otherwise be." | |
| Mr Cameron's inheritance of £300,000 from his father had been just below the inheritance tax threshold (£325,000) so people "put two and two together and often make five", he said. | |
| It was hard to know if they were in any way connected without more information, he added, "but it didn't look to me when I looked at it that it was something that looked wrong." | |
| Analysis | Analysis |
| By BBC political correspondent Iain Watson | By BBC political correspondent Iain Watson |
| Outside the Conservative spring conference on Saturday protesters called on the prime minister to come clean about his financial affairs. Now he hopes he has provided the proof that he has done just that. | Outside the Conservative spring conference on Saturday protesters called on the prime minister to come clean about his financial affairs. Now he hopes he has provided the proof that he has done just that. |
| David Cameron has produced a summary of his tax affairs, not the full returns. Downing Street says that is to aid clarity and is similar to information other politicians have put in the public domain. | David Cameron has produced a summary of his tax affairs, not the full returns. Downing Street says that is to aid clarity and is similar to information other politicians have put in the public domain. |
| None of the details suggests he didn't pay what was due. There is, however, further proof of his wealth - something which his opponents will hope is a political liability. | None of the details suggests he didn't pay what was due. There is, however, further proof of his wealth - something which his opponents will hope is a political liability. |
| And there will be questions over whether income from share dividends which he derived while opposition leader came from other overseas trusts as well as from his late father's investment vehicle. | And there will be questions over whether income from share dividends which he derived while opposition leader came from other overseas trusts as well as from his late father's investment vehicle. |
| But while Labour will argue that the prime minister is still too opaque when it comes to transparency, some Conservative politicians worry he has revealed too much. | But while Labour will argue that the prime minister is still too opaque when it comes to transparency, some Conservative politicians worry he has revealed too much. |
| There may be pressure on other cabinet ministers including the chancellor to go public. And some fear if tax no longer remains a private matter, successful people could be dissuaded from going in to politics. | There may be pressure on other cabinet ministers including the chancellor to go public. And some fear if tax no longer remains a private matter, successful people could be dissuaded from going in to politics. |
| Addressing the Tories' spring forum on Saturday, Mr Cameron had said he was to blame for the handling of revelations about his investment in the Bahamas-based Blairmore Holdings fund. | Addressing the Tories' spring forum on Saturday, Mr Cameron had said he was to blame for the handling of revelations about his investment in the Bahamas-based Blairmore Holdings fund. |
| "It has not been a great week. I know that I should have handled this better. I know there are lessons to learn and I will learn them," he said. | "It has not been a great week. I know that I should have handled this better. I know there are lessons to learn and I will learn them," he said. |
| "Don't blame Number 10 Downing Street or nameless advisers, blame me." | "Don't blame Number 10 Downing Street or nameless advisers, blame me." |
| As he was speaking, hundreds of protesters marched through Whitehall calling on Mr Cameron to "close tax loopholes or resign". | As he was speaking, hundreds of protesters marched through Whitehall calling on Mr Cameron to "close tax loopholes or resign". |
| Furore | Furore |
| The fund was named in the leak of documents belonging to Panamanian law firm Mossack Fonseca. They revealed Ian Cameron had been a client of Mossack Fonseca when establishing the fund for investors. | The fund was named in the leak of documents belonging to Panamanian law firm Mossack Fonseca. They revealed Ian Cameron had been a client of Mossack Fonseca when establishing the fund for investors. |
| The prime minister first promised his tax return data in 2012 but details for the past seven years have now been made public in the wake of the furore over the documents. | The prime minister first promised his tax return data in 2012 but details for the past seven years have now been made public in the wake of the furore over the documents. |
| BBC political correspondent Carole Walker said the decision to publish the tax returns data would keep the prime minister's finances in the headlines. | BBC political correspondent Carole Walker said the decision to publish the tax returns data would keep the prime minister's finances in the headlines. |
| But Downing Street felt the only way to move forward was by confronting the issue head on with an unprecedented level of detail, our correspondent said, adding however that Labour was in no mood to let the row drop. | But Downing Street felt the only way to move forward was by confronting the issue head on with an unprecedented level of detail, our correspondent said, adding however that Labour was in no mood to let the row drop. |
| Labour leader Jeremy Corbyn has committed to publishing his own tax return "very, very soon, when I've got the papers together", insisting there were "no surprises there". | Labour leader Jeremy Corbyn has committed to publishing his own tax return "very, very soon, when I've got the papers together", insisting there were "no surprises there". |
| He accused Mr Cameron of misleading people and losing public trust, saying: "It's not about an individual, it's not about one person, it's not about one family. | |
| "It's about a whole ethos where the very rich are able to put their money into tax havens, into offshore accounts where there is often a zero rate of income tax, also sometimes a zero rather of corporation tax." | |
| Shadow chancellor John McDonnell has demanded an "open and public" inquiry into the Panama Papers revelations on offshore funds and tax havens. | Shadow chancellor John McDonnell has demanded an "open and public" inquiry into the Panama Papers revelations on offshore funds and tax havens. |
| London rent | London rent |
| Mr Cameron's tax schedule from RNS Chartered Accountants also showed: | Mr Cameron's tax schedule from RNS Chartered Accountants also showed: |
| The prime minister's salary was steady at £142,500 from 2010 to 2015, but there were tax variations due to treatment of his pension contributions and the different approaches to his £20,000 tax-free allowance. | The prime minister's salary was steady at £142,500 from 2010 to 2015, but there were tax variations due to treatment of his pension contributions and the different approaches to his £20,000 tax-free allowance. |
| In terms of rent earned on the Notting Hill house, Mr Cameron's 50% share, minus expenses, was £45,041 in 2011-12, £46,700 in 2012-13, £47,764 in 2013-14 and £46,899 last year. | In terms of rent earned on the Notting Hill house, Mr Cameron's 50% share, minus expenses, was £45,041 in 2011-12, £46,700 in 2012-13, £47,764 in 2013-14 and £46,899 last year. |
| The new tax task force announced by Mr Cameron will have initial funding of £10m and involve staff from the Serious Fraud Office and Financial Conduct Authority as well as HMRC and the NCA. | The new tax task force announced by Mr Cameron will have initial funding of £10m and involve staff from the Serious Fraud Office and Financial Conduct Authority as well as HMRC and the NCA. |
| The government said the agencies had leading technology, experts and resources to tackle money laundering and tax evasion. | The government said the agencies had leading technology, experts and resources to tackle money laundering and tax evasion. |
| Shadow chancellor John McDonnell said proposals for the task force to report to the chancellor and home secretary were "unacceptable". | Shadow chancellor John McDonnell said proposals for the task force to report to the chancellor and home secretary were "unacceptable". |
| "Any inquiry must be fully independent and in public," he said. | "Any inquiry must be fully independent and in public," he said. |