Tuesday, 10 March 2015

HMRC Okays HSBC Peerage

It seems that HMRC failed to tell Downing Street about evidence of serious misconduct at HSBC’s Swiss arm despite being asked to vet Stephen Green, the executive chairman of its parent bank, over his suitability to join the House of Lords as a government minister in 2010.

The Guardian notes that HMRC confirmed only Green’s personal compliance with UK tax laws while clearing him for the peerage. It did not inform the government that it was in possession of thousands of secret account files from the Swiss bank, which implicated HSBC in tax evasion and other potential criminal offences.


For why?

Dave Hartnett, HMRC’s then head of tax, said:
HMRC is asked to provide an indication of reputational risk for appointments of peers in relation to their tax compliance history only.”
Fair enough, maybe.

However, one would have thought that a little "blue sky thinking" and imagination by HMRC would have spurred it to point out that there may be problems down the line with the bank and the peerage.

Does this mean that HMRC lacks initiative and imagination, or does this mean that HMRC was simply trying to keep a lid on things?

Tax does have to be taxing.

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8 comments:

  1. When will the message get through, they are all in the same team, they'll piss up your back and tell you it's raining while they line their own pockets.
    it's the old pals network, we are not privy to access so we just fund it.

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  2. No one spotted the typo in the headline (now corrected);)

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  3. I would love to see Hartnett get his balls roasted. You can tell by looking at him hes corrupt.

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  4. Remember the spot the ball competition that used to run years ago....... new version just out..... spot the honest politician, HMRC, banker. Like a needle in a hay stack!!

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  5. Notice the bastard conveniently not available yesterday,is he busily trying to concoct his story together before going before the PAC?

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    Replies
    1. Who, Dave Hartnett or Stephen Green?

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  6. Hartnett by a country mile, a more totally dislikeable and venal f**ker you are ever likely to meet.

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    Replies
    1. I'd put Stephen Green in the same category!

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