Yesterday (6th November) during an Urgent Question following the publication of the Paradise Papers, I asked the Financial Secretary to the Treasury what the legitimate reasons are for people stashing money offshore to avoid paying tax. You can watch the question here at 16:01.
Like me, two thirds of British taxpayers are taxed at source through PAYE. They just cannot understand why anyone would want to put money into a small island like Bermuda, the Cayman Islands or Jersey. The Minister says that there are legitimate reasons for doing so. Will he educate me: what are the legitimate reasons.