British Prime Minister David Cameron has paid nearly 76,000 pounds ($107,350) in tax on an income of over 200,000 pounds ($282,500) in 2014-15, figures released by the premier showed.
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In terms of rent earned on the Notting Hill house, Mr Cameron’s 50% share, minus expenses, was £45,041 in 2011-12, £46,700 in 2012-13, £47,764 in 2013-14 and £46,899 previous year.
Mr Corbyn, who is set to publish his tax return “as soon as possible”, according to aides, has called for Mr Cameron to go further and reveal all his tax details from years before he became Prime Minister.
British Prime Minister David Cameron learned the power of the hashtag on Sunday after his attempt to quell outrage over allegations of tax dodging relating to his father’s involvement in offshore investments were detailed in the Panama Papers.
Mr. Cameron’s father, Ian Cameron, was named in documents leaked from Panamanian law firm Mossack Fonseca a week ago.
David Cameron released a summary of his tax returns after a week of criticism regarding his father appearing in the Panama Papers.
Speaking on the BBC’s Andrew Marr Show on Sunday, Labour leader Jeremy Corbyn said Cameron still had big questions to answer. “I could have handled this better”, he told them.
The prime minister is one of scores of political leaders, celebrities and sports stars who have been linked to shell companies and investment trusts after last weekend’s data breach at the Panama City-based law firm Mossack Fonseca, which specializes in registering offshore companies. “I sold those shares”.
“The issue is one that it does actually reduce the level of inheritance tax that is available for the Exchequer as a whole”.
Mr Cameron said he was publishing the information to be “completely open and transparent” about his financial affairs.
On Monday, Cameron is due to face fellow politicians in parliament and is also due to announce that new legislation making companies criminally liable if employees aid tax evasion will be introduced this year, Reuters said.
Cameron said on Thursday his father’s investment trust was not set up to avoid tax but to invest in dollar-denominated shares.
But he insisted Sunday that Britain was at the “forefront of worldwide action to tackle aggressive tax avoidance and evasion” with the announcement of a £10 million taskforce to scrutinise the Panama Papers.
The documents, produced by English accountancy firm RNS and published by Cameron’s Downing Street office, show that Cameron paid 75,898 pounds on taxable income of 200,307 pounds (about $310,000) in the most recent tax year.
On Saturday, before he released the financial information that falls short of a full tax return, Cameron admitted that he could have handled the storm over his financial affairs “better” and that it had not been “a great week”.
Some reports suggested it may have been a way of avoiding inheritance tax, though the Financial Times quoted tax experts as saying that was not the case.
Later in May and July 2011, his mother also transferred two separate payments of £100,000 to his accounts.
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Scotland’s first minister, Scottish National Party (SNP) leader Nicola Sturgeon, also published her tax details, putting pressure on Cameron’s ministers, in particular finance minister George Osborne, to do the same.
