Andrea Leadsom

Posted: July 8, 2016 in Uncategorized

Thanks Wikipoedia
On 9 April 2014 Leadsom was appointed Economic Secretary to the Treasury in the mini-reshuffle caused by Maria Miller’s resignation from the Cabinet.
Following her appointment, it was discovered that she had placed her shares in a buy-to-let property company, which she had started with her husband in 2003, into trusts for the benefit of her children. This is a move that is commonly used to avoid inheritance tax. She also took advantage of offshore banking arrangements for the property company in an apparent contradiction to George Osborne’s attempts to crack down on tax avoidance.[10] A spokesperson for Leadsom said: “This is a normal corporate situation and all tax that is due is being paid. None of the loans for the properties are based offshore”.
There was further criticism when it was revealed that she had received a series of donations totalling £70,000 from a firm based in London but owned by her Guernsey-based brother-in-law, Peter de Putron, via a holding company in the British Virgin Islands tax haven.[11] Leadsom’s husband Ben is a director of the firm which made the donations, which were used to pay the salaries of staff in Leadsom’s Westminster office after her election as MP; the firm has also made donations of £816,000 to the Conservative party.[12] Because the firm making the donations, Gloucester Research (later becoming GR Software and Research) was based in London the donations conformed to the rule banning political donations from abroad. The Labour MP Tom Watson said: “These very large donations might be within the rules, but it certainly isn’t right that a Treasury minister has been taking money in this way. Most reasonable people will see this as completely unreasonable”.[11]
As the government minister responsible for financial services she oversees the regulation of hedge funds, including London-based DP Management which is owned by her benefactor Mr de Putron, who is married to her sister.

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