I am not a tax expert but as I recall you don't fill in that section if your gains are below the allowable amounts.

Well, if that is right then they weren't declared on his tax return, just that there was a capital gain but no declaration of the amount. In any case not much in the grand scale of things but he should probably have declared it in the Register of Members' Interests to be fully transparent.

Edited by Mapletree (08 Apr 2016 5.42pm)

And now he is being tripped up for raking it in...

Well as you've said the issue here is not so much the tax arrangements in themselves, it's three things:

1) The hipocrisy of seeking to make political capital from attacking people for tax avoidance schemes while profiting from one yourself
2) Saying your government is committed to tackling off shore tax avoidance then doing very little and you having had a secret offshore fund
3) Being less than fully honest about it all despite having several days to come clean

I read through the quotes and I can't see where he says he didn't profit.

Downing Street has been forced to issue four statements on the matter, initially saying it was a "private matter" whether the Cameron family still had funds in offshore investments, before stating they "do not benefit from any offshore funds" and there are none they will benefit from in the future.

[Link]

Admittedly it was 'Downing Street' but I can't imagine they released that statement without getting his ok, can you?

'Lies to the masses as are like fly's to mollasses...they want more and more and more'