HSBC: Tax Avoidance

HM Treasury written question – answered on 23rd June 2015.

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Photo of Louise Haigh Louise Haigh Labour, Sheffield, Heeley

To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 5 June 2015 to Question 261, when he plans to make a statement to the House on progress made with the inquiry into tax avoidance.

Photo of Louise Haigh Louise Haigh Labour, Sheffield, Heeley

To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 5 June 2015 to Question 261, when he plans next to update the House on progress with the inquiry into tax avoidance facilitated by HSBC.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

HM Revenue and Customs (HMRC) has a strong track record of tackling those who have evaded their responsibilities or those who have facilitated tax evasion.

In this case, HMRC and other law enforcement agencies are still in the process of re-examining data, which can now be used for criminal purposes. This follows agreement to do so from the French Authorities. The results of the re-examination will require assessment and evaluation to determine the need for any criminal or civil investigations.

HMRC is working with a range of law enforcement agencies but is unable to provide a precise timescale for completion of the task.

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