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Dedicated to the taxpayers of Britain, and the employees of Her Majesty's Revenue and Customs (HMRC), who have to endure the monumental shambles that is HMRC.
Friday, 2 October 2009
It seems that banks are making a stand against HMRC.
Approximately 308 banks, whilst not exactly taking to streets in a "Peasants' Revolt", are kicking up a fuss over HMRC attempts to pry out of them details about their clients' overseas bank accounts (using "Schedule 36 Notices).
The banks are appealing against the notices on the grounds that the request for information is "unduly onerous".
Whilst it is unlikely that, in the long run, the banks will be able to block HMRC this will disrupt HMRC's fishing trip for some time.
Powers for invasion of privacy and spying should be in proportion to the results expected. I remain to be convinced that this fishing trip will net the government billions in evaded tax receipts.
Tax does have to be taxing.
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