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Jonathan Fisher QC has two interviews with ITN News

According to leaked accounts released by an international collaboration of news outlets, HSBC’s Swiss banking arm helped some of their richest clients conceal their assets and avoid taxes.

Jonathan Fisher QC recently had two interviews with ITN News commenting upon the meaning of tax avoidance in the light of the discussion surrounding HSBC, Switzerland and Lord Fink.

Commenting on News at Ten on Thursday 12th January, Jonathan explained how some tax avoidance can be unobjectionable where, for example, investment in ISAs is involved.

In a longer interview the day before, Jonathan Fisher QC explained the possible reasons as to why the UK has been more reluctant to investigate in comparison to other countries such as the US, France, Belgium and Argentina who were all making their own investigations into the matter.

Jonathan commented saying,

‘The revenue is a reluctant prosecutor and there are very good reasons for that. First of all, the criminal process is very costly and it doesn’t always give a tremendous return. Secondly, you need to remember the revenue is primarily and essentially a revenue gathering exercise. It is not a prosecutor. Therefore in order to maximise the tax take, it will be much more interested in recovering money, rather than take people through the criminal courts. And there is a third reason as well, that the revenue may well have decided that they don’t want to initiate to any criminal prosecutions here. And that is because the way the information came to light’.

The interview is carried on the ITN News website. You can view the clip of the full interview here.

Jonathan Fisher QC is ranked by the Legal Directories as one of the UK’s leading barristers in cases involving tax disputes and banking and financial services regulation.

Jonathan can be contacted to discuss any of the issues raised in the article at fisher@devchambers.co.uk

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The views expressed in this article represent those of the author and not Bright Line Law.

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