Sajid Javid “used offshore trusts” while working for George Osborne’s Treasury
While the current health secretary gave up his non-dom status in 2009 before entering politics, he retained the confidence until 2012 when he was an adviser to George Osborne
Image: NurPhoto/PA Images)
Sajid Javid has not explained that he used offshore trust while working at the Treasury, it has been reported.
It comes after it was revealed the former Chancellor enjoyed non-dom status before entering politics and had an offshore trust – believed to be in a tax haven.
While the current health secretary gave up his non-dom status in 2009 before entering politics, he retained the confidence until 2012 when he was an adviser to George Osborne.
While MPs are required to state major holdings, they are not required to state where they are held.
Mr. Javid entered shares in Deutsche Bank, his former employer, on the 2011 Register of Shareholders.
but approached for trust by the independenta spokesman declined to say whether the trust included those shares as well as other assets, including shares in other companies.
They also declined to say whether it was a “blind trust” or where it was located.
Images courtesy of PA Wire/Press Association)
There is no evidence of wrongdoing by Mr Javid, who says he has fully explained everything necessary to Parliament and tax officials.
When he closed the trust in 2012, Mr Javid said he was faced with a 50% tax rate, which he claimed offset any “accrued benefits” from it.
“Sajid has been very open and transparent about his previous UK tax status and when he lived abroad. He has nothing more to add,” said a spokesman.
But Labor Party’s James Murray said it was “hypocrisy” for senior ministers to defend a tax hike this month when they themselves had taken advantage of beneficial tax rules.
He said: “The public has a right to know which ministers have benefited from tax avoidance deals and how much money they have saved as a result.”
https://www.mirror.co.uk/news/politics/sajid-javid-used-offshore-trust-26824658 Sajid Javid "used offshore trusts" while working for George Osborne's Treasury