Prime Minister says he paid all taxes on profits from off-shore fund

In an interview with ITV News, Prime Minister David Cameron said he had paid all the taxes due on the stake he held in his father’s offshore investment fund.

Following the leak of the controversial so-called ‘Panama papers’, Downing Street released four statements relating to Cameron’s financial affairs.

“We owned 5,000 units in Blairmore Investment Trust, which we sold in January 2010. That was worth something like £30,000.

“I paid income tax on the dividends. There was a profit on it but it was less than the capital gains tax allowance so I didn’t pay capital gains tax. But it was subject to all the UK taxes in all the normal ways.

“I want to be as clear as I can about the past, about the present, about the future, because frankly I don’t have anything to hide.”