HMRC Is Shite

HMRC Is Shite
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.

Wednesday, 6 July 2016

The Queen's Bank Hit With £75M Tax Evasion Fine

As per Citywire Coutts has been fined £75 million wrt two separate tax evasion probes relating to its former Swiss private banking business.

The largest of the two penalties (£56 million) was paid to US prosecutors after it admitted assisting US clients to conceal assets in offshore accounts, which subsequently helped them evade tax.

In a separate investigation, Coutts paid £18.8 million to German prosecutors after a tax evasion probe covering a 10-year period to 2014.

Tax does have to be taxing.

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