More Trou­ble for Cameron af­ter his Tax Records go Pub­lic

The Economic Times - - Around The World -

ing the fam­ily es­tate to avoid a po­ten­tial £80,000 worth of in­her­i­tance tax. The pay­ments by Mary Cameron to her son in May and July 2011 were given tax-free, and will only be­come li­able to in­her­i­tance tax of up to 40% if she dies within seven years of hand­ing over the money.

Down­ing Street said the pay­ments were an at­tempt to “bal­ance” the sums re­ceived by all their chil­dren.

The fig­ures show that, on top of his in­come as prime min­is­ter, his 50 % share of the rental in­come on the Camerons’ fam­ily home in Lon­don amounted to £46,899, he re­ceived £9,834 in tax­able ex­penses from the Tory party and £3,052 in in­ter­est on sav­ings in a high street bank. When he first en­tered Down­ing Street in 2010, he ben­e­fited from a £20,000 tax-free al­lowance as part of his £142,500 salary.

(Left) Pro­test­ers demon­strate against Cameron fol­low­ing rev­e­la­tions in the Panama papers, out­side Down­ing Street on Satur­day and (right) Cameron ad­dresses the Con­ser­va­tive Spring Fo­rum —

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