The company says it has operated beyond reproach for 40 years and has never been charged with criminal wrong-doing

Mr [David] Cameron’s father, who died in 2010, is reported to have used Mossack Fonseca to shield his investment fund, ­Blairmore Holdings Inc, from UK taxes.

Papers say his fund was “managed and conducted so it does not become resident in the United Kingdom for UK taxation purposes”.

As the Downing Street accommodation is rent-free, this is a major boon to the Cameron household finances. Unsurprisingly, the prime minister was at pains to point out that since 2011-12, he has not taken the benefit of a little-known £20,000 extra tax “prime ministerial expenses deduction” that was available to him (having been introduced under the postwar Attlee government).

His way of going about this looks slightly odd, though. For three years he claimed the relief but cancelled it out by declaring the same amount as income that he didn’t actually have, which looks strictly incorrect. Few would have expected the story at the end of the week to be that David Cameron had overstated his income for tax purposes.

I mean FFS, we've gotta be in the top five of financially corrupt European countries, haven't we?

Edward Troup: from tax haven adviser to leading HMRC's Panama inquiry | Politics | The Guardian
http://www.theguardian.com/politics/201 ... rs-inquiry

I mean FFS, we've gotta be in the top five of financially corrupt European countries, haven't we?