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HSBC and the Revenue: tax rules should not be changed mid play

hsbc-swiss-banksJonathan Fisher QC has recently written an article published in The Times entitled, ‘‘HSBC and the Revenue: tax rules should not be changed mid play’. In the article Jonathan states that HSBC’s controversy shows that politicians need to develop a consistent approach when it comes to tax collection.

Speed Read

George Osborne this week indicated new laws might be needed to deal with tax dodgers as he insisted he had been unware of allegations that HSBC’s Swiss arm had colluded in tax evasion. Asked why just one prosecution had resulted from the files passed to HM Revenue and Customs (HMRC) about the tax affairs of people with accounts at the bank’s Swiss subsidiary, the chancellor said: “I trust the judgments of our prosecuting authorities.”

At first blush, HM Revenue & Customs’ failure to convict more than a single taxpayer for tax fraud seems truly feeble when there are about 6,000 candidates for criminal prosecution.

Commentary

Read the full article on The Times here or alternatively read the PDF version here.

 

Photo Credit

Jonathan Fisher QC quoted in Private Eye article r...
Jonathan Fisher QC writes article in the Times, ‘H...
The views expressed in this article represent those of the author and not Bright Line Law.

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