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| The questions David Cameron still faces over his tax affairs | |
| (35 minutes later) | |
| Downing Street has issued six statements about David Cameron’s tax affairs. | Downing Street has issued six statements about David Cameron’s tax affairs. |
| They began on Monday by saying questions about any benefit the prime minister received from an offshore trust set up in Panama by his late father were a “private matter”. By midnight on Saturday, Cameron issued a schedule of his taxable incomes and gains including the profits he made from the sale of shares in the trust, Blairmore Holdings Inc, that he admitted on Thursday evening. | They began on Monday by saying questions about any benefit the prime minister received from an offshore trust set up in Panama by his late father were a “private matter”. By midnight on Saturday, Cameron issued a schedule of his taxable incomes and gains including the profits he made from the sale of shares in the trust, Blairmore Holdings Inc, that he admitted on Thursday evening. |
| Many questions remain. They include: | Many questions remain. They include: |
| • Did Cameron or his wife benefit from the Blairmore offshore trust or any other offshore trust before 2010? | • Did Cameron or his wife benefit from the Blairmore offshore trust or any other offshore trust before 2010? |
| • Why did they place money in an overseas tax haven in the first place? | • Why did they place money in an overseas tax haven in the first place? |
| • Downing Street has confirmed the prime minister’s mother gave him £200,000 in 2011. Was this money previously held in Blairmore Holdings or any other offshore entity? | • Downing Street has confirmed the prime minister’s mother gave him £200,000 in 2011. Was this money previously held in Blairmore Holdings or any other offshore entity? |
| • Given the prime minister is responsible for policy on offshore tax havens, are any of the assets that he or his wife Samantha stand to inherit from their parents held in offshore trusts? | • Given the prime minister is responsible for policy on offshore tax havens, are any of the assets that he or his wife Samantha stand to inherit from their parents held in offshore trusts? |
| • Cameron said that in July 2010, after becoming prime minister, he sold shares that he jointly owned with his wife. What were these shares? Were any investments in offshore trusts which avoided UK tax? | • Cameron said that in July 2010, after becoming prime minister, he sold shares that he jointly owned with his wife. What were these shares? Were any investments in offshore trusts which avoided UK tax? |
| • Downing Street has previously said Cameron, his wife and their children do not benefit from offshore trusts and there are no offshore trusts that will benefit them in future. Did Samantha Cameron or their children benefit from any offshore trusts in the past? | • Downing Street has previously said Cameron, his wife and their children do not benefit from offshore trusts and there are no offshore trusts that will benefit them in future. Did Samantha Cameron or their children benefit from any offshore trusts in the past? |
| • Have the Camerons placed assets in a offshore discretionary trust for their children? Leading tax lawyer, Jolyon Maugham QC has said such trusts are not covered by Downing Street’s denial of any offshore trusts that he or his family “will benefit from in the future”. | • Have the Camerons placed assets in a offshore discretionary trust for their children? Leading tax lawyer, Jolyon Maugham QC has said such trusts are not covered by Downing Street’s denial of any offshore trusts that he or his family “will benefit from in the future”. |
| “An offshore discretionary trust is one from which they only might benefit, depending on how the trustees choose to exercise their discretion,” Maugham said. | “An offshore discretionary trust is one from which they only might benefit, depending on how the trustees choose to exercise their discretion,” Maugham said. |
| • Does the prime minister agree with members of his cabinet and Labour that all MPs should be compelled to publish similar documents detailing their tax schedule? | • Does the prime minister agree with members of his cabinet and Labour that all MPs should be compelled to publish similar documents detailing their tax schedule? |
| • Will he publish his own tax schedule for the years he served as an MP before becoming prime minister, omitted from the tranche released on Saturday night? | • Will he publish his own tax schedule for the years he served as an MP before becoming prime minister, omitted from the tranche released on Saturday night? |
| • Why did the prime minister personally intervene against EU measures to improve transparency on trusts (pdf)? | • Why did the prime minister personally intervene against EU measures to improve transparency on trusts (pdf)? |
| • Is the prime minister still comfortable taking donations from individuals who have substantial offshore interests? | • Is the prime minister still comfortable taking donations from individuals who have substantial offshore interests? |