Tax Avoidance (HSBC)

Part of Oral Answers to Questions — Home Department – in the House of Commons at 3:34 pm on 9th February 2015.

Alert me about debates like this

Photo of Shabana Mahmood Shabana Mahmood Shadow Minister (Treasury) 3:34 pm, 9th February 2015

Thank you, Mr Deputy Speaker.

This Government have failed to back Labour in our calls to crack down on tax avoidance, whether on stopping hedge funds avoiding hundreds of millions in tax on shares or on closing the eurobonds loophole, and now it seems that wrongdoing may have been overlooked on their watch. As Richard Brooks, a former HMRC tax inspector, has said, the Treasury and HMRC

“knew that there was a mass of evidence of tax evasion at the heart of HSBC” in 2011, but they

“simply washed their hands of it.”