What is really going on in politics? Get our daily email briefing straight to your inbox Sign up Thank you for subscribing We have more newsletters Show me See our privacy notice Invalid Email

A sensational leak of 11 million confidential documents last night showed how the world’s richest people protect their wealth.

The records, said to be from secretive Panama law firm Mossack Fonseca, apparently show world leaders, sports stars and celebrities use offshore companies.

Among those mentioned in the “Panama Papers” were David Cameron’s late father Ian and several Tory peers and former MPs.

Footballer Lionel Messi and his dad, the Prime ­Ministers of Iceland and Azerbaija­n, the King of Saudi Arabia and ­President of Azerbaijan are named.

Read more:

Meanwhile, Vladimir Putin is also linked. Although the Russian President is not named, files reveal money from Russian bank Rossiya – already on the EU sanctions list – was channelled through offshore firms owned by associates allegedly including concert cellist Sergei Roldugin.

(Image: REUTERS/Toby Melville)

Mr Cameron’s father, who died in 2010, is reported to have used Mossack Fonseca to shield his investment fund, ­Blairmore Holdings Inc, from UK taxes.

Papers say his fund was “managed and conducted so it does not become resident in the United Kingdom for UK taxation purposes”.

While tax evasion is illegal in the UK, tax avoidance or minimisation is usually legal.

Two Tory peers are mentioned in the documents as having used tax havens. They are ex-minister Michael Mates and Pamela Sharples.

Video Loading Video Unavailable Click to play Tap to play The video will start in 8 Cancel Play now

Lord Mates said his shares in a ­Caribbean real estate firm were not of “any value”.

Lady ­Sharples has shares in Bahamas-based Nunswell Investments Limited. Her lawyers said she became a director in 2000, the firm was registered in the UK that year and now pays taxes here.

(Image: Getty Images)

The names of the Tory MPs have not been revealed. No10 said it would not be commenting but the PM ­previously said tax avoidance is “morally wrong”.

Read more:

More than half of the 300,000 firms said to have used Mossack Fonseca are registered in British-administered tax havens, which Mr Cameron has vowed to crack down on.

Video Loading Video Unavailable Click to play Tap to play The video will start in 8 Cancel Play now

(Image: Getty) (Image: https://twitter.com/mossfon)

Read more:

Shadow Chancellor John McDonnell said: “The Panama papers revelations are extremely serious. Cameron promised and has failed to end tax secrecy and crack down on ‘morally unacceptable’ offshore schemes, real action is now needed.”

The documents, dating over 40 years, were leaked to more than 100 international news organisations including the BBC and the Guardian.

Mossack Fonseca rejected any accusations of wrongdoing and said it had operated “beyond reproach” for 40 years. The firm appeared to accept the files came from “unauthorised access” to its systems.