Rees-mogg cashes in on offshore tax haven
Tory bagged $680k from 2011 deal
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.