On Friday, 10 November 2017 14:43:27 UTC, tim... wrote:
"whisky-dave" wrote in message
...
On Friday, 10 November 2017 08:41:56 UTC, Handsome Jack wrote:
whisky-dave posted
On Wednesday, 8 November 2017 17:24:07 UTC, Andy Burns wrote:

We didn't because it felt "dodgy" and sure enough Jimmy Carr hit the
headlines the following year

He blammed his accountants, but didn't David Cameron criticise him and
then it was found out that DC was also using tax aviodance sheme .

No, it wasn't. What happened was that the Guardian slung a lot of mud
about Cameron's father's offshore investment fund, deliberately
confusing the various meanings of the word "trust" to imply that Cameron
was avoiding tax. Finally it became clear that he wasn't, and the
guardian had to climb down and talk about "ill-advised" and "unnecessary
secrecy" blah blah.

No DC continued to gain intrest from the offshore fun which is tax
evaision rather than avoidence that's why it was stopped.

Why would "gaining" interest from an offshore fund be tax free for a UK
taxpayer?

No idea, or why DC oppoligised if he did nothing wrong.



It will only be tax free for a non-dom (if the interest remains offshore) or
if the investment is in a trust and the interest remains in the trust (but
in the latter case they will be rules to comply with about paying tax when
the value of the trust distributed).

I assume if the person is living in this country and the intrest comes to them in this country it should be seen as unearned income just like it is for everyone else.


But if the interest is "paid out" annually to a resident UK taxpayer it will
be taxable at their marginal rate.

I would have assumed that applied to DC.


tinm