Prime minister 'won't gain from offshore funds in future

Downing Street has been forced to further clarify David Cameron's financial affairs after questions about his family's tax arrangements, the BBC reported.

No 10 said there were "no offshore trusts or funds" that the prime minister or his immediate family would benefit from "in future".

Leaked documents revealed Ian Cameron was a client of Panamanian law firm Mossack Fonseca and used one of the most secretive - albeit lawful - tools of the offshore trade after he helped set up a fund for investors.

Downing Street initially said Mr Cameron's tax affairs were a "private matter".

But after a day of questions from the media about whether his family retains an interest in the fund, Downing Street took the unusual step of issuing a statement saying Mr Cameron, his wife and his children "do not benefit from any offshore trusts".

And Mr Cameron himself said he had no shares or income from offshore trusts.

It followed a call from Labour leader Jeremy Corbyn for an independent inquiry into Britons linked to tax haven allegations - including Mr Cameron's family.