"Cameron Received £200,000 Gift From His Mother"

[dutchman]

David Cameron was given £200,000 by his mother in 2011 on top of the £300,000 his father left him after he died in 2010.



Details of his income and tax affairs, released by Downing Street, also show the Prime Minister earned £90,000 in rental income from his family home last year.

He also earned more than £3,000 on interest from his savings and sold shares worth a total of £72,000 when he became Prime Minister.

The tax documents show Mr Cameron had a taxable income of more than £200,000 in 2014-15 and paid almost £76,000 in tax.

They also show that when he first entered Downing Street in 2010 he took advantage of a £20,000 tax-free allowance, but stopped claiming it last year.

And they suggest that Mr Cameron earned enough to benefit from the cut in the top rate of tax from 50p to 45p after George Osborne cut it in 2012.

The two payments of £100,000 each from the Prime Minister’s mother will only become liable to inheritance tax if she dies within seven years of the gifts, made in 2011.

It is therefore estimated that if assuming she is still alive in two years’ time, after seven years, Mr Cameron will save inheritance tax of between £70,000 and £80,000 which he would have paid if his father had left him £500,000.

Downing Street revealed that after the Prime Minister's brother Alexander was left the family home in Berkshire, Mrs Cameron also gave money to his sisters as well as the Prime Minister "to balance it out".

Earlier, speaking to Tory activists in London, Mr Cameron said he was publishing the information because he wants to be completely open and transparent about these things.