Prime Minister Theresa May's husband works for a firm named in the Paradise Papers data leak, according to emails seen by Private Eye magazine.
Philip May works for investment management firm Capital Group, which reportedly used offshore-registered funds to make investments in a Bermuda-registered company.
The use of offshore tax havens to legally avoid tax has come under increased criticism in recent years.
No surprise there then.
"Philip May is a relationship manager at investment advisors Capital Group, which used offshore law firm Appleby to arrange investments in tax havens, Private Eye reported, citing leaked emails.
Capital Group's Cayman Islands funds, CGPE V LLP and Capital International Private Equity Funds (CIPEF) V LP, invested in a Bermuda-registered South American agriculture company, called El Tejar, the report said. Both the Cayman Islands and Bermuda are offshore jurisdictions, known for their zero rates of tax.
The leaked emails are part of the cache of documents stolen from Appleby last year, and given to the International Consortium of Journalists (ICIJ). The documents, which detail the complex financial arrangements of some of the world's richest individuals, have been dubbed the "Paradise Papers." "
http://uk.businessinsider.com/paradise-papers-philip-mays-capital-group-2017-11?IR=T
The citizens of the UK don't want their country to provide loopholes for the rich and powerful to shovel their money out of the country and avoid tax.
It's time they had a government that will join the international clean-up of tax-dodging and money laundering. Nobody benefits except the crooks.
Philip May works for investment management firm Capital Group, which reportedly used offshore-registered funds to make investments in a Bermuda-registered company.
The use of offshore tax havens to legally avoid tax has come under increased criticism in recent years.
No surprise there then.
"Philip May is a relationship manager at investment advisors Capital Group, which used offshore law firm Appleby to arrange investments in tax havens, Private Eye reported, citing leaked emails.
Capital Group's Cayman Islands funds, CGPE V LLP and Capital International Private Equity Funds (CIPEF) V LP, invested in a Bermuda-registered South American agriculture company, called El Tejar, the report said. Both the Cayman Islands and Bermuda are offshore jurisdictions, known for their zero rates of tax.
The leaked emails are part of the cache of documents stolen from Appleby last year, and given to the International Consortium of Journalists (ICIJ). The documents, which detail the complex financial arrangements of some of the world's richest individuals, have been dubbed the "Paradise Papers." "
http://uk.businessinsider.com/paradise-papers-philip-mays-capital-group-2017-11?IR=T
The citizens of the UK don't want their country to provide loopholes for the rich and powerful to shovel their money out of the country and avoid tax.
It's time they had a government that will join the international clean-up of tax-dodging and money laundering. Nobody benefits except the crooks.
