Lord Fink has admitted taking "vanilla" measures to reduce his liabilities a day after threatening to sue Ed Miliband for accusing him of tax avoidance.
In an interview with the Evening Standard, the Tory donor said: "The expression tax avoidance is so wide that everyone does tax avoidance at some level."
He added: "I chose the mildest end of the spectrum that I was advised on. What I did ... was at the vanilla, bland, end of the spectrum."
The hedge fund millionaire told the paper he "used the opportunity ... to set up some simple family trusts" while on a four-year posting to Switzerland.
But he claimed he paid tax on all the dividends, both in Switzerland and the UK.
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