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After days of pressure, David Cameron has said he and his wife Samantha owned shares in an offshore fund set up by his late father, before selling them for 拢30,000 in 2010.

"There are millions of people in the UK who have invested in similar funds," said James Quarmby, a specialist in tax planning and wealth structuring at Stephenson Harwood.

Mr Quarby also challenged the use of the word trust, rather than fund:

"Can you do me a big favour and not ever use the term offshore trust again in relation to this investment," he said to John Humphrys.

(Image: David Cameron. Credit: Reuters)