New Treasury minister faces questions over tax arrangements

New Treasury minister faces questions over tax arrangements

Andrea Leadsom has held properties in a company rather than in her own name and made use of offshore banking services.

The new Tory Treasury minister Andrea Leadsom has insisted she received no tax advantages from making use of offshore banking services, holding properties through a company rather than in her name and creating trusts for her children.

The moves are legal but Labour has raised “serious questions” about Leadsom’s tax arrangements, calling on her to explain whether she had a lower liability as a result, especially given George Osborne’s suggestion that complicated avoidance measures are morally unacceptable.

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