Rees-mogg cashes in on off­shore tax haven

Tory bagged $680k from 2011 deal

Daily Mirror (Northern Ireland) - - NEWS -

many of his com­ments have led to ac­cu­sa­tions that he does not un­der­stand the con­cerns of or­di­nary Bri­tons.

It was al­ready pub­licly known that Mr Rees-mogg owns a com­pany called Sal­is­ton, es­tab­lished in 1995 to hold prop­erty that orig­i­nally be­longed to his fa­ther. It also holds his stake in Som­er­set Cap­i­tal Man­age­ment, an emerg­ing mar­kets fund he co-founded in 2007.

Som­er­set is man­aged via sub­sidiaries in the tax havens of the Cay­man Is­lands and Sin­ga­pore. There is noth­ing il­le­gal about this and Mr Rees-mogg – a staunch Brex­i­teer touted as a fu­ture Tory leader – has de­fended off­shore tax havens. He told the Mir­ror last night:

FOOTIE pun­dit Gary Lineker is on the de­fen­sive after be­ing named in the Par­adise Pa­pers scan­dal – days after claim­ing he would not be.

The BBC Match of The Day host, right, was among stars who bought hol­i­day homes in Bar­ba­dos us­ing firms set up in the British Vir­gin “The es­sen­tial point is that hon­est tax­pay­ers re­ceive no ben­e­fit from off­shore struc­tures.”

Ear­lier this week, Mr Rees-mogg said that politi­cians con­demn­ing the tax scams ex­posed by the Par­adise Pa­pers were “hyp­o­crit­i­cal and not very bright”.

The MP for North East Som­er­set has also made head­lines with his stance on abor­tion, say­ing on Good Morn­ing Bri­tain in Septem­ber that he op­posed it after rape. And he re­cently branded Mark Car­ney, Gover­nor of the Bank of Eng­land, an “en­emy of Brexit”.

Mean­while, the Par­adise Pa­pers also men­tion a former Eton Col­lege pal of Mr

Rees-mogg. In­vest­ment man­ager

Is­lands – let­ting them avoid lo­cal taxes when they sold them. Lineker re­port­edly co-owned a £2.2mil­lion prop­erty that was sold in 2010. Deny­ing any “tax ir­reg­u­lar­ity”, his spokesman re­port­edly said the sale was de­clared to HMRC and all taxes due James Pock­ney has worked for the MP as a di­rec­tor of Sal­is­ton for 22 years.

He is recorded as hav­ing ap­proached Ap­pleby, the firm at the cen­tre of the leak, re­gard­ing an Isle of Man firm called Gen­eral & Ori­en­tal In­vest­ments in 2008, it was re­ported.

There is no ev­i­dence it be­came a client. Pub­lic records show a Manx com­pany of that name was founded in 1995 and dis­solved in 2011.

Mr Pock­ney owns a UK firm, also called Gen­eral & Ori­en­tal, through which he man­ages in­vest­ments in busi­ness ven­tures. He de­clined to com­ment last night. upon sale of the firm were paid in full. As the first Par­adise Pa­pers sto­ries emerged, Lineker told a Twit­ter heck­ler: “I’ll sleep very soundly. I rather doubt I’ll be men­tioned as I hap­pily pay my taxes.”

When re­minded of his com­ments last night, Lineker merely ref­er­enced the state­ment is­sued by his spokesman.

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