Osborne’s Tax Summary

The Treasury say:

“The dividend income relates to shares in Osborne and Little Group Limited, a UK resident manufacturing company of wallpapers and fabrics that was founded by his father. The dividends are derived from shares that the Chancellor of the Exchequer owns directly, and also as life tenant* of a family trust, based and resident in the UK which holds, as its sole asset, shares in that company. The Chancellor of the Exchequer paid income tax on these dividends.”

Osborne and Little has been hit by its own offshore rowThe PM, Chancellor and Shadow Chancellor have all released summaries of their tax returns – the Leader of the Opposition still can’t find his…

*A life interest trust is a trust established to provide the beneficiary with (who is known as the ‘life tenant’) the right to receive the income (after expenses) from the trust.  This right is usually given for their lifetime.  On their death the trust fund passes to the other named beneficiaries, known as the ‘residuary beneficiaries’.  Basically it protects the family capital and ensures it passes to children rather than, for example, ex-wives… 




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

IDS responds to Juncker’s pints analogy earlier:

“Mr Juncker knows a little bit more about the bar than perhaps many of us do.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Davis: Brake Leaked His Own Letter Davis: Brake Leaked His Own Letter
Brake Misleads Bercow About Guido Story Brake Misleads Bercow About Guido Story
Labour Charge Electric Campaign Vehicle in Parliament Labour Charge Electric Campaign Vehicle in Parliament
Mr Rayner’s Alternative to Badger Cull Mr Rayner’s Alternative to Badger Cull
Sir Cover-Up, Sir Craig and the Curious Case of His Memoirs Sir Cover-Up, Sir Craig and the Curious Case of His Memoirs
Alun Cairns’ Tippy-Toes Pose Alun Cairns’ Tippy-Toes Pose
Pidcock Publicly Owned Pidcock Publicly Owned
Young Labour: Leave NATO, Abolish the City and Reject Two-State Solution Young Labour: Leave NATO, Abolish the City and Reject Two-State Solution
Salmond and Tasmina’s Boozy City Break Salmond and Tasmina’s Boozy City Break
Sunday Show Highlights Sunday Show Highlights
Tory MP’s Two Nicknames for Hammond Tory MP’s Two Nicknames for Hammond
Sadiq: “I’m an Uber Man” Sadiq: “I’m an Uber Man”
Tom Brake’s Epic Legatum Whinge Tom Brake’s Epic Legatum Whinge
Juncker: Thanks For Saving Us in The War, Now You Must Pay Juncker: Thanks For Saving Us in The War, Now You Must Pay
Tom Brake’s Epic Legatum Whinge Backfires Tom Brake’s Epic Legatum Whinge Backfires
Starmer Admits Public Clueless as to Labour’s Brexit Policy Starmer Admits Public Clueless as to Labour’s Brexit Policy
Melania Sports Sam Cam’s Cefinn Melania Sports Sam Cam’s Cefinn
Mounting Buzzfeed Losses as Staff Salaries Average £60,000 Mounting Buzzfeed Losses as Staff Salaries Average £60,000
Vince Welcomes LibDems’ Harvey Weinstein Back Into Fold Vince Welcomes LibDems’ Harvey Weinstein Back Into Fold
74% Say No Deal Better Than A Bad Deal 74% Say No Deal Better Than A Bad Deal