Lets face it, Cameron's father set up more than one company overseas. There is only one reason why folk do that, and it isn't for the sunshine.
As only one of your responses deserve a reply, I'll only deal with that one comment:
There are a number of reasons why one sets up a bank account in a different country.
Suppose I wanted to deal with, say US stock market, in 1980'ish, all transactions would have been in dollars.
Now where, in 1980, could I find a UK bank account that allows me to deal in dollars without bank service charges for each transaction? Simples! I couldn't!
I'd have to set up an off-shore account that allows me to deal in dollars. Aaah, but most countries require an address in that country, to open a bank account. Aaaah, I'll look around for a designated country that allows foreigners without addresses in that country to open an account. It's called an off-shore account! There's usually less regulation that allows such accounts. They're designed like that, by their governments to encourage investment in that county. Just like UK Economic Business Zones, Ireland's lower Business Taxes, etc. If people/businesses did not use them, they would be a pointless tool.
While UK had currency restrictions in force prior to 1980, (I think the limit of money out of UK was a paltry £250 or som'at silly like that) such accounts was in sterling, and most still are. Only recently can you find a UK bank willing to use Euros or Dollars instead of sterling.
If, however you wish to trade with a company in Australia, New Zealand, China, etc. you'd still need an off-shore account, or an account in that country, (which might be difficult without an address there) unless you were willing to pay bank service charges on each transaction.
There are other reasons for off-shore accounts, such as less regulation, (Don't forget UK banks were only deregulated by Thatcher and Gordon.), less transparency, and of course, the one that now creates all the hooha, less tax. Most off-shore accounts do not charge tax at source, they allow the gross interest, so that account holders can declare their income in their country of residence. For all you know, Cameron senior may have been doing just that. Cameron junior certainly was! It's only a suspicion, a suspicion held only by Cameron's political opponents, that Cameron senior was not paying the appropriate tax.
BTW, tax debts do not die with you. So if any tax was owed by Cameron senior, it would have been deducted from his estate prior to being inherited.
There are some countries, such as US, that require you to declare all your global financial accounts, and will charge you tax on them. It's the law.
All expats, receiving UK pensions can have their pensions paid in one of three ways, 1) direct into a foreign account, at the UK governments exchange rates: 2) into a UK account, where they hold it until a favorable exchange rate is available and they exchange it then: or 3) into a foreign account who will charge you a foreign currency service transaction and convert at their exchange rates.
It is possible to open a UK bank account, while you have a UK address, and to continue that account after you no longer have that UK address. But you can't open an account without a UK address. A similar situation applies throughout EU countries and other OECD countries. (1 see note)
Similarly, most countries still operate a limit on how much currency can be taken out of the country before declaration.
EU has a 10,000 Euro limit, which applies to UK also.
If I wanted to move £100,000 to an account abroad, without declaration, I'd need an off-shore account which provides a degree of secrecy. Switzerland used to be one of those destinations possible.
So the question of taxation is not the only reason for off-shore accounts.
Edit. After thought, you can have interest paid in gross, in a UK account, but you have to complete forms, and possibly prove that you are not resident, for tax purposes, not liable for tax, and/or paying appropriate tax elsewhere.
Note 1, some global banks such as HSBC will allow you to open an account in another country without an address in that country, as long as you have held an account with them for a while, you continue to hold your account in your country of residence, and/only within the local regulations of that foreign country. For instance you can open a HSBC account in another EU country without even visiting that country, but you couldn't do that in say, Asian countries, you'd have to physically visit that country to open a HSBC account there.
