Ten Things You Need to Know Today: Saturday 2 Nov 2013

1. TORY MINISTER'S OFFSHORE TAX DEAL

Tory minister Stephen Hammond used an offshore company to buy his second home, allowing him to cut his tax bill, reports the Daily Telegraph. Hammond used a company based in Gibraltar to buy a £500,000 villa in Portugal. This allowed him to avoid “a big hit of capital gains tax”, according to a senior tax expert. The disclosure will embarrass David Cameron, who has described legal tax havens as “morally wrong”.

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