DHAKA: British Prime Minister David Cameron has said he and his wife Samantha owned shares in an offshore trust set up by his late father, before selling them for £30,000 in 2010.

The PM has faced questions over Blairmore Holdings, an offshore company set up by his late father, Ian, reports the BBC.

He told ITV News he had paid all UK taxes due on the profits he made from the sale of the shares and said the firm had not been set up to avoid tax.

Labour said the PM had been forced into the “extraordinary admission”.

The BBC expected Cameron would publish his tax returns by the next week.

There have been days of headlines about Blairmore Holdings, a fund for investors which, until 2006, used “bearer shares” to protect its clients' privacy, following the leak of 11 million documents held by Panama-based law firm Mossack Fonseca.

They show that Ian Cameron, who died in 2010, was one of five UK directors who flew to board meetings in the Bahamas or Switzerland.

BDST: 0620 HRS, APR 08, 2016
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