Sajid Javid, before becoming an MP, was a Managing Director at Deutsche Bank. Whilst there he partook in a “tax efficiency” scheme whereby bonuses were paid via a Cayman Islands company. This is from the Mail on Sunday1 27 April 2014
This statement from his office to the Mail tends to confirm that he was part of the scheme:
Following the refusal of the Tax Tribunal to accept the validity of the scheme Deutsche Bank appealed to the Supreme Court, together with UBS AG, who operated a similar scheme. The Supreme Court decided in a judgment2 dated 9 March 2016 that the scheme was tax evasion, and therefore illegal.
In the event I understand that Deutsche Bank paid any tax due to the HMRC. So perhaps that is what Javid means when he tells Channel 4’s Jon Snow in 2016, that he didn’t benefit from the scheme. The question is, did DB recoup that money from Javid? But he has NEVER said he was not part of the scheme. Sajid Javid is now Home Secretary. (If the video doesn’t play well, try this link)