Quote:
Originally Posted by downquark1
Assuming everything Cameron says is true, the remaining implication Tom Watson seems to be running with, is that he profited from an overseers company helping people avoid tax.
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As long as income was declared on the money people paid in and any money paid out to them, then all is above board. It could be one person is liable for tax in the UK, another in Germany, and another in Monaco. The tax would be paid in the appropriate countries.
But if somebody receives a payment from a tax haven, and doesn't declare it as income and uses it to pay off a loan that was contrived to sidestep money laundering checks, then that is corrupt and criminal. But not apparently if a Labour Minister is involved, ie Tessa Jowell.