Mortgage News
Cameron ‘happy’ to release tax return details
The Prime Minister is set to publish details of his tax return as controversy over whether senior politicians contribute a fair amount of tax.
David Cameron is “very happy” for the information to be made public, the Press Association reported.
Last week Chancellor George Osborne said the government was considering making ministers release tax returns to make the highest levels of government more transparent.
As media scrutiny of taxation intensified yesterday, Osborne expressed his “shock” that some of the country’s wealthiest people are able to organise their finances so they pay “virtually no” income tax.
George Osborne told the Daily Telegraph he had seen “anonymised copies” of tax returns showing some of the highest earners paid just a tenth of their income in tax.
It also emerged yesterday Downing Street confirmed some of the country’s top earners are donating to charities which “don’t do a great deal of charity work” in help cut income tax bills.
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The government said its move to cap tax relief on charitable donations was necessary to prevent abuse of the system.