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Magaret Hodge 'had £1.5m shares in offshore tax haven'

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Magaret Hodge 'had £1.5m shares in offshore tax haven'

Post by sharonl on 29.04.15 21:05

Margaret Hodge - Aunty to Phillip Edmonds and fellow Stemcor Executive.  

Phillip claims to have photographed Madeleine McCann  in the Ocean club play area but failed to produce the photographs.  
Margaret assisted Lord Levy in fundraising for political parties, securing loans from philanthropists like Dame Vivien Duffy.  In 2007, Lord Levy was arrested whilst Tony Blair was questioned under caution, in the cash for honours scandal.
Duffy was Patron to PACT charity


Labour's Hodge 'had £1.5m shares in offshore tax haven': Senior politician accused of hypocrisy following earlier fierce criticism of tax avoidance
Labour MP Margaret Hodge has repeatedly attacked offshore arrangements
But she has allegedly benefited from scheme allowing Britons to move assets back to UK without facing criminal action
Tory candidate for Shipley Philip Davies said news was 'sheer hypocrisy'

By Daniel Martin Chief Political Correspondent For The Daily Mail and Martin Robinson for MailOnline

Published: 01:51, 29 April 2015  | Updated: 12:47, 29 April 2015  



A senior Labour politician - the party's fiercest critic of tax avoidance - has been accused of hypocrisy after it was claimed she was handed more than £1.5million in shares from a tax haven.

Margaret Hodge has built a reputation for taking on those accused of having 'secretive' offshore funds as the chairman of the Commons public accounts committee.

But The Times reported the multi-millionaire had benefited from a controversial scheme that lets wealthy Britons move undeclared assets back to the UK without facing criminal action.



Chairman of the Commons public accounts committee Margaret Hodge has been a fierce critic of tax avoidance - but has reportedly received more than £1.5m in shares from a tax haven


Chairman of the Commons public accounts committee Margaret Hodge has been a fierce critic of tax avoidance - but has reportedly received more than £1.5m in shares from a tax haven

In 2011 she was apparently one of the beneficiaries of the winding-up of a Liechtenstein trust that held shares in the steel-trading business set up by her father.

Just under 96,000 shares in Stemcor handed to Mrs Hodge in that year came from the tiny principality, which is renowned for low tax rates.

Three-quarters of the shares in the family's Liechtenstein trust had previously been held in Panama, which Mrs Hodge described last month as 'one of the most secretive jurisdictions' with 'the least protection anywhere in the world against money laundering'.



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The Labour MP has repeatedly attacked big businesses and bankers who used offshore arrangements, but has not declared that she benefited from an offshore trust, the newspaper said.

Philip Davies, the Tory candidate for Shipley, said: 'It is the sheer hypocrisy we have become used to from Labour politicians.'

But Mrs Hodge said she had ensured that 'any shares I held were above board and that I paid all relevant taxes in full. Every time I received any benefit from the company this happened.'

She has always declared her holding in the parliamentary register of financial interests.

Her share of the £1.5million was around £280,000.



In 2011, Mrs Hodge was apparently one of the beneficiaries of the winding-up of a Liechtenstein trust set up by her father, of which three-quarters of the shares had previously been held in Panama (pictured)





In 2011, Mrs Hodge was apparently one of the beneficiaries of the winding-up of a Liechtenstein trust set up by her father, of which three-quarters of the shares had previously been held in Panama (pictured)

In 2012 it emerged her family business paid just 0.25 per cent in tax on its profits.

Mrs Hodge, a multi-millionaire former Labour minister, has been one of the fiercest critics of tax avoidance by companies such as Starbucks, Google and Amazon.



She faced questions over the limited tax paid by Stemcor, the steel trading company of which she is a shareholder and which was founded by her father and is run by her brother.

She said at the time her own shareholding was 'tiny'.

Analysis of Stemcor's accounts showed that the business paid tax of just £163,000 on revenues of more than £2.1billion in 2011.

However, it is not known whether the company – which made profits of £65million – used tax avoidance measures similar to those criticised in the past by Mrs Hodge.

MailOnline has contacted the Labour MP for comment but Ed Balls said today she had 'paid the appropriate tax' following claims she received shares from a tax haven.

The shadow chancellor said his Labour Party colleague had 'done the right thing' following reports in The Times.

Asked about the report at a Labour campaign event in central London, Mr Balls said: 'On the Margaret Hodge question, these were shares which were transferred by her family out of Germany for the Second World War.

'That is the history of this and Margaret has brought those shares onshore and paid the appropriate tax and I think she's done the right thing. I hope that answers your question, thank you for asking it, it's good to be able to clarify that today.'

Ms Hodge has represented the constituency of Barking and Dagenham in East London for 20 years.


Read more: http://www.dailymail.co.uk/news/article-3060029/Labour-s-Hodge-1-5m-shares-offshore-tax-haven-Senior-politician-accused-hypocrisy-following-earlier-fierce-criticism-tax-avoidance.html#ixzz3YjFbl69A
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Re: Magaret Hodge 'had £1.5m shares in offshore tax haven'

Post by BlueBag on 29.04.15 21:47



Labour, Conservatives, Lib Dems... they are ALL the same and THEY are all in it together.

These people are sick.

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Re: Magaret Hodge 'had £1.5m shares in offshore tax haven'

Post by BlueBag on 29.04.15 21:57


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Re: Magaret Hodge 'had £1.5m shares in offshore tax haven'

Post by Verdi on 29.04.15 23:16

sharoni today @ 9:05 pm

"Phillip claims to have photographed Madeleine McCann  in the Ocean club play area but failed to produce the photographs."

I raised that issue at some other place a while ago, I was told that he did hand the photographs over to the McCanns and the police, apparently it must be true because he said so when replying to a mail 'from you know who'.  Hmmm ok. 

So I asked, then where are they?  Well it seems that he (Edmonds) is not obliged to provide proof that they were handed over.  Hmmm ok.

So I asked, why are the photographs not contained in the PJ files?  Well it seems there is no need, why should they be?  Err - because it's evidence?  Hmmm ok.

So I asked, how could he have passed (implying by hand) over said photographs to the McCanns and the police when he jetted off back to Switzerland before he could have known Madeleine had gone missing?  Have you never heard of electronic mail I was asked?  Have to admit that totally flummoxed me, not as the vanquished but because a) how would he know where to contact the McCanns and what police did he allegedly pass his photographs to - the Swiss Guard?   b)  Why would it occur to him once back in Switzerland that his photographs had Madeleine McCann in the background.  c)  How would he necessarily know what she looked like?

This is from a McCann sceptic (not me)?  Perhaps the tin foil hat is restricting the circulation of blood to my brain but it seems to me that Edmonds was/is part of the McCann protection racket.

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Re: Magaret Hodge 'had £1.5m shares in offshore tax haven'

Post by jozi on 30.04.15 10:48

@Verdi wrote:sharoni today @ 9:05 pm

"Phillip claims to have photographed Madeleine McCann  in the Ocean club play area but failed to produce the photographs."

I raised that issue at some other place a while ago, I was told that he did hand the photographs over to the McCanns and the police, apparently it must be true because he said so when replying to a mail 'from you know who'.  Hmmm ok. 

So I asked, then where are they?  Well it seems that he (Edmonds) is not obliged to provide proof that they were handed over.  Hmmm ok.

So I asked, why are the photographs not contained in the PJ files?  Well it seems there is no need, why should they be?  Err - because it's evidence?  Hmmm ok.

So I asked, how could he have passed (implying by hand) over said photographs to the McCanns and the police when he jetted off back to Switzerland before he could have known Madeleine had gone missing?  Have you never heard of electronic mail I was asked?  Have to admit that totally flummoxed me, not as the vanquished but because a) how would he know where to contact the McCanns and what police did he allegedly pass his photographs to - the Swiss Guard?   b)  Why would it occur to him once back in Switzerland that his photographs had Madeleine McCann in the background.  c)  How would he necessarily know what she looked like?

This is from a McCann sceptic (not me)?  Perhaps the tin foil hat is restricting the circulation of blood to my brain but it seems to me that Edmonds was/is part of the McCann protection racket.
I have believed this to be the case all along....its not the Mcs but Edmonds who is being protected !!! I have never noticed any statement from him or am I mistaken ? He cut his holiday short and flew out before the shit hit the fan !!!

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Re: Magaret Hodge 'had £1.5m shares in offshore tax haven'

Post by HelenMeg on 30.04.15 11:18

@jozi wrote:
@Verdi wrote:sharoni today @ 9:05 pm

"Phillip claims to have photographed Madeleine McCann  in the Ocean club play area but failed to produce the photographs."

I raised that issue at some other place a while ago, I was told that he did hand the photographs over to the McCanns and the police, apparently it must be true because he said so when replying to a mail 'from you know who'.  Hmmm ok. 

So I asked, then where are they?  Well it seems that he (Edmonds) is not obliged to provide proof that they were handed over.  Hmmm ok.

So I asked, why are the photographs not contained in the PJ files?  Well it seems there is no need, why should they be?  Err - because it's evidence?  Hmmm ok.

So I asked, how could he have passed (implying by hand) over said photographs to the McCanns and the police when he jetted off back to Switzerland before he could have known Madeleine had gone missing?  Have you never heard of electronic mail I was asked?  Have to admit that totally flummoxed me, not as the vanquished but because a) how would he know where to contact the McCanns and what police did he allegedly pass his photographs to - the Swiss Guard?   b)  Why would it occur to him once back in Switzerland that his photographs had Madeleine McCann in the background.  c)  How would he necessarily know what she looked like?

This is from a McCann sceptic (not me)?  Perhaps the tin foil hat is restricting the circulation of blood to my brain but it seems to me that Edmonds was/is part of the McCann protection racket.
I have believed this to be the case all along....its not the Mcs but Edmonds who is being protected !!! I have never noticed any statement from him or am I mistaken ? He cut his holiday short and flew out before the shit hit the fan !!!
It is a matter of debate that he left early on the morning of the 4th May - there is no proof of this - it may have been a 'planted' story.
I also believe that this is all about protection of so-called VIPs that were present there. Well there is no question really -  nothing else warrants this ongoing charade.

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Re: Magaret Hodge 'had £1.5m shares in offshore tax haven'

Post by BlueBag on 30.04.15 11:26

@HelenMeg wrote:It is a matter of debate that he left early on the morning of the 4th May - there is no proof of this - it may have been a 'planted' story.
I also believe that this is all about protection of so-called VIPs that were present there. Well there is no question really -  nothing else warrants this ongoing charade.
It has to be something like that.

The sheer scale of the "help" provided is mind boggling for a pair of middle class nobodies.

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Re: Magaret Hodge 'had £1.5m shares in offshore tax haven'

Post by sharonl on 30.04.15 19:59

@HelenMeg wrote:
@jozi wrote:
@Verdi wrote:sharoni today @ 9:05 pm

"Phillip claims to have photographed Madeleine McCann  in the Ocean club play area but failed to produce the photographs."

I raised that issue at some other place a while ago, I was told that he did hand the photographs over to the McCanns and the police, apparently it must be true because he said so when replying to a mail 'from you know who'.  Hmmm ok. 

So I asked, then where are they?  Well it seems that he (Edmonds) is not obliged to provide proof that they were handed over.  Hmmm ok.

So I asked, why are the photographs not contained in the PJ files?  Well it seems there is no need, why should they be?  Err - because it's evidence?  Hmmm ok.

So I asked, how could he have passed (implying by hand) over said photographs to the McCanns and the police when he jetted off back to Switzerland before he could have known Madeleine had gone missing?  Have you never heard of electronic mail I was asked?  Have to admit that totally flummoxed me, not as the vanquished but because a) how would he know where to contact the McCanns and what police did he allegedly pass his photographs to - the Swiss Guard?   b)  Why would it occur to him once back in Switzerland that his photographs had Madeleine McCann in the background.  c)  How would he necessarily know what she looked like?

This is from a McCann sceptic (not me)?  Perhaps the tin foil hat is restricting the circulation of blood to my brain but it seems to me that Edmonds was/is part of the McCann protection racket.
I have believed this to be the case all along....its not the Mcs but Edmonds who is being protected !!! I have never noticed any statement from him or am I mistaken ? He cut his holiday short and flew out before the shit hit the fan !!!
It is a matter of debate that he left early on the morning of the 4th May - there is no proof of this - it may have been a 'planted' story.
I also believe that this is all about protection of so-called VIPs that were present there. Well there is no question really -  nothing else warrants this ongoing charade.

I agree, the UK Government is protecting itself not the McCanns.

I have a number of thoughts about this including;

1. The Spartacus Club
2. The cash for honours Scandal of 2006/07

Tony Blair:

1. Questioned under caution about cash for honours in 2006/7 (twice)
2. Linked to PACT and Missing People
3. Rapidly appointed Clarence Mitchell as spokesman for the McCanns
4. Took holidays in Cliff Richards' villa

2007

1. Cash for honours scandal
2. Missing people in desperate need of a boost, a "new beginning"
3. News International was also suffering

More research is required on this Spartacus Club, I did wonder whether any hotels or guest houses near PDL accommodated these people.

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Re: Magaret Hodge 'had £1.5m shares in offshore tax haven'

Post by Verdi on 30.04.15 22:41

HelenMeg today @ 12:18 pm

Admittedly I haven't seen documented proof of Edmonds time of  departure, such as an airline ticket, I don't think there is any doubt that he left on 4th May at some time, rather than the 5th, the date he was booked with Warners to depart.  Perhaps nothing sinister in someone leaving prematurely, particularly if flying to a different destination than the scheduled return (which appears likely in the case - there is reference to the possibility somewhere on Warners booking forms) but to my simple brain, Ocean Club PDL on the Portuguese Algarve doesn't quite fit the bill of someone with such an illustrious background.  Rubbing shoulders with a bunch of small time medics, from differenct parts of the UK, gathered together for a weeks jolly?  Doesn't sound very likely to me, even more intriguing however is Edmonds reply to shhhh - you know who:

"Having been in Portugal at the time of Madeleine’s disappearance and seen all
of the events first hand, there is not one shred of doubt in my mind
that the events as reported were correct."

What events did he see first hand and what reported events were correct - reported in the UK press?  I don't think so! 

The statement indicates to me that he had first hand knowledge of the McCanns movements during that week, adding this to his knowledge of Madeleine's appearance (couldn't possibly have been from press reports and/or the photograph officially issued by the PJ because they were nothing like the Madeleine taken on the holiday) I wonder if he actually knew the McCanns or other T9 friends.  On the other hand he could of course be politely telling TB to naff off (I admit if a stranger wrote to me in that manner I would most certainly tell him to naff off) but why then reply in the first place?  Maybe the answer to that is in this quote:

"However, I would also not want further conspiracy theories to fester by simply ignoring your letter."

Another curious comment IMO.  Such an important witness but no documented statements or no proof of said photographs, very fishy.

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Re: Magaret Hodge 'had £1.5m shares in offshore tax haven'

Post by aquila on 30.04.15 22:51

From what I've seen of PDL and this is no offence to the Portuguese who live there it's hardly an authentic Portuguese destination, it has no particular Portuguese native charm, the golf courses are quite a shout away, the accommodation isn't up to much and it looks like Butlins-on-Sea. There is a large ex-pat population from what I gather and there are lots of holiday lets. Now why would someone with money choose PDL?

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Re: Magaret Hodge 'had £1.5m shares in offshore tax haven'

Post by Verdi on 30.04.15 22:57

sharonl today @ 8:59 pm (sorry for getting your name wrong last post, my eyes must be a bit dodgy)

I recall reading something about the Spartacus Club that quite made my stomach churn.  It was advertising discount for members who wished to avail themselves of the facilities on offer at various child care institutions.  How sordid can you get, these people are the scum of the universe and that's not my opinion it's fact.
puke

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Re: Magaret Hodge 'had £1.5m shares in offshore tax haven'

Post by Verdi on 30.04.15 23:03

@aquila wrote:From what I've seen of PDL and this is no offence to the Portuguese who live there it's hardly an authentic Portuguese destination, it has no particular Portuguese native charm, the golf courses are quite a shout away, the accommodation isn't up to much and it looks like Butlins-on-Sea. There is a large ex-pat population from what I gather and there are lots of holiday lets. Now why would someone with money choose PDL?
Quite, in a nutshell!  It's a resort for package tourists and as you say ex-pats.  I believe on at least one occasion he booked at the Tapas restaurant for dinner.  Hardly comparable to the Carlton Club is it?

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Re: Magaret Hodge 'had £1.5m shares in offshore tax haven'

Post by aquila on 30.04.15 23:17

@Verdi wrote:
@aquila wrote:From what I've seen of PDL and this is no offence to the Portuguese who live there it's hardly an authentic Portuguese destination, it has no particular Portuguese native charm, the golf courses are quite a shout away, the accommodation isn't up to much and it looks like Butlins-on-Sea. There is a large ex-pat population from what I gather and there are lots of holiday lets. Now why would someone with money choose PDL?
Quite, in a nutshell!  It's a resort for package tourists and as you say ex-pats.  I believe on at least one occasion he booked at the Tapas restaurant for dinner.  Hardly comparable to the Carlton Club is it?
The beach isn't up to much either (once again apologies to the Portuguese living in PDL). A few tennis courts, a few ex-pat bars, a couple of supermarkets selling products specifically to suit ex-pats and a Tapas Bar with a large proportion of UK and non-Portuguese staff.

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Re: Magaret Hodge 'had £1.5m shares in offshore tax haven'

Post by jozi on 06.05.15 9:46

@aquila wrote:
@Verdi wrote:
@aquila wrote:From what I've seen of PDL and this is no offence to the Portuguese who live there it's hardly an authentic Portuguese destination, it has no particular Portuguese native charm, the golf courses are quite a shout away, the accommodation isn't up to much and it looks like Butlins-on-Sea. There is a large ex-pat population from what I gather and there are lots of holiday lets. Now why would someone with money choose PDL?
Quite, in a nutshell!  It's a resort for package tourists and as you say ex-pats.  I believe on at least one occasion he booked at the Tapas restaurant for dinner.  Hardly comparable to the Carlton Club is it?
The beach isn't up to much either (once again apologies to the Portuguese living in PDL). A few tennis courts, a few ex-pat bars, a couple of supermarkets selling products specifically to suit ex-pats and a Tapas Bar with a large proportion of UK and non-Portuguese staff.
It just don't fit right, does it with the Millionaire Lifestyle that he has........I heard he flew back on his private jet late at night or early hours in the morning cutting his holiday short.

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Margaret Hodge

Post by Rogue-a-Tory on 30.10.15 0:02

Dame Margaret Hodge appearance on This Week tonight was greeted by Andrew Neill referring to her as #barkingmadge - I feel duty obliged to refer to her by that title from now on big grin

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