Cameron’s mother gave PM £200,000 gift

David Cameron’s mother gave him a £200,000 gift after his father’s death which could potentially avoid inheritance tax, his accounts show. In a first for a UK prime minister, Mr Cameron has released a summary of his tax returns from 2009-15 as he tries to defuse a row over his finances. The two £100,000 payments […]

David Cameron’s mother gave him a £200,000 gift after his father’s death which could potentially avoid inheritance tax, his accounts show.
In a first for a UK prime minister, Mr Cameron has released a summary of his tax returns from 2009-15 as he tries to defuse a row over his finances.
The two £100,000 payments were made a year after the PM inherited £300,000 from his father in 2010, papers show.
Ministers said he’d done nothing wrong but Labour said questions remained.
In the past six years, Mr Cameron earned almost £1.1m and paid about £400,000 in income tax, according to the three-page summary.
Last year, he paid almost £76,000 in tax on an income of more than £200,000. Those earnings included almost £47,000 from a share of rent paid on his family home in west London.
Labour leader Jeremy Corbyn said Mr Cameron needed to publish his full tax returns dating back to before he became prime minister in 2010, when he sold off shares in his late father’s offshore investment fund for a £9,500 profit, below the £10,100 threshold for capital gains tax.
Asked about the £200,000 gift Mr Cameron received from his mother, the Labour leader said there was “possibly” a case for looking at inheritance tax rules.