In one of its kind revelation, UK Prime Minister Mr. Cameron has releases details of his tax summary for the period 2009-2015. The revelation looks like a fair attempt to come clean off all the controversies his finance has been creating.
The PM inherited £300,000 on demise of his father in 2009. A year after the demise he received two payments of £100,000 each. There seems to be nothing wrong in it but the amounts involved are raising eyebrows though ministries have not shown any doubt on the authenticity.
A three page summary provided by UK PM
According to the three page tax summary, Mr.Cameron has earned a whooping £1.1 million and paid around £400,000 in income tax in the past six years. Just in the last year alone he earned an income of £200,000 paying an income tax of around £76000, this income included the £47,000 he had received for sale of his share in his family home situated in West London.
There are no details available for £72,000 the UK PM had received for sale of his controversial “other shares” in Baltimore Holdings fund or the cash of £40,000 which he had received under his stock broking account.
Mary Cameron had made transfers to UK PM in 2011
On the other hand Mary Cameron has made certain transfers to her son in 2011 which were tax free and will be liable to inheritance tax at the rate of around 40% only if she dies within 7 years of the said transfer.
Inheritance tax is applicable only if a person’s property is worth over £325,000 when they die, and the tax is not applicable when transfers after death are made between married couples and civil partners.
The UK PM’s salary from £142,500 in the period from 2010 to 2015.
It is important to note that Mr. Cameron has announced a new task force with initial funding of £10 Million as an independent enquiry call consisting of Serious Fraud Office, Financial Conduct Authority, HMRC and NCA’s staff. These agencies not only have the leading technologies but also expertise and resources to dwell well in the issue. #Government #David Cameron #Blasting News UK