It appears everyone in this country is paying doing their civic duty and paying tax – except of course, for multimillion pound corporations and the prime minister.
While thousands of ordinary people struggle to pay their council tax bills and are subsequently getting jail threats, the debate over David Cameron’s tax status continues to rage.
The release of his tax duties showed that his mother transferred two separate payments of £100,000 to his accounts in 2011.
This allowed the family estate to avoid a potential £80,000 worth of inheritance tax.
These new revelations came just days after it was revealed the prime minister received a considerable boost to his savings in 2011. Following the death of his father in 2010, Cameron was left £300,000 tax free as an inheritance.
He was also forced to admit that he had made a £19,000 profit from the Blairmore fund set up by his father after days of describing it as a private matter.
Speaking in central London, Cameron admitted: “It has not been a great week. I know that I should have handled this better, I could have handled this better. I know there are lessons to learn and I will learn them. Don’t blame No 10 Downing Street or nameless advisers, blame me.”
The revelations come just days after David Cameron vowed to clamp down on businesses that are deemed to not be paying their fair share of tax.
Tomorrow (Monday April 11th) Cameron will announce the establishment of a taskforce, led by HM Revenue & Customs and the National Crime Agency, to examine the legality of the financial affairs of companies mentioned in the Panama Papers, where documents relating to his father’s offshore fund were discovered by the Guardian and the International Consortium of Investigative Journalists.
Recently, a study published by the Debt Advisory Centre revealed that council tax problems are landing ordinary Brits into severe financial trouble.
The report showed that 13 per cent of people have council tax arrears. More than half of those with arrears have up to two months and a further five per cent have amassed arrears of three months or more.
Young people are particularly vulnerable to debts, with those aged between 18-24 most likely to have built up arrears.
In addition, a quarter of under-25s questioned admitted to having fallen behind with council tax payments.
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