HMRC Cosies Up To HSBC in Birmingham HQ

Work has started on the second building to be developed at the Arena Central project in Birmingham city centre.

3 Arena Central will be home to staff from HM Revenue & Customs and the Department for Work and Pensions after a 25-year lease deal was struck last year for the entire 14-storey building.

There will be more than 3,600 civil servants based there by 2020 where they will join the new head office of HSBC UK on the development.

Steven Boyd, estates director for HMRC, is quoted by the Birmingham Post:

"This is an important milestone in the delivery of the Government Hub in Birmingham, which will be the new home for HMRC in the West Midlands.

When it is built, the new building will mean our staff can work in a modern and bright environment, while working collaboratively with other teams, to increase our effectiveness in collecting taxes."

I wonder if, when he made the comment about increasing HMRC's effectiveness, he had in the back of his mind HMRC's proximity to HSBC?

For reference:

HSBC tax avoidance scandal: Timeline of Britain's biggest banking leak

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

HMRC Faces Legal Challenge Over LDF

Accountancylive reports that HMRC could face a legal challenge over its decision to offer UK taxpayers with undeclared HSBC Swiss bank accounts the chance to settle via the Liechtenstein Disclosure Facility (LDF), rather than prosecuting them for tax avoidance which would have seen many pay higher penalties.

Solicitors Leigh Day have been instructed by global online campaign group Avaaz to send a ‘pre-action’  letter to HMRC regarding the tax authorities’ actions over the Falciani list of names of around 3,600 UK taxpayers (also referred to as the Lagarde list).

The letter invites HMRC to explain the basis and terms on which it made the LDF offer; explain how many taxpayers used the LDF settlement and why this was possible as their accounts were in Switzerland at the time; and provide an analysis of the impact on tax receipts.

HMRC has 30 days to respond to the Avaaz letter, after which the group can apply to a judge to launch the review.


Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

Mr Fixit

Dave Hartnett quoted by the Telegraph at yesterday's PAC:

"I was approached to join a committee looking to make the bank secure for the future after its difficulties in Mexico and Switzerland. The idea of helping to make a huge bank secure for the future appealed a lot for me."

Job done!

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

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.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

In Like Flint - PAC's Chat With HSBC and HMRC

PAC had a busy day yesterday, having a wee chat with the "great and the good" of both HSBC and HMRC.

HSBC chief executive Stuart Gulliver apologised to MPs for "unacceptable" practices at HSBC's Swiss subsidiary. Alongside Gulliver was HSBC chairman Douglas Flint.

Gulliver also defended his personal decision to be paid by the bank via a Panamanian company with an account in the Swiss private bank, insisting that the arrangement was not designed to avoid tax, but to protect his privacy against other members of staff who were able to view employees' accounts via the company computer system.

Gulliver is quoted by the Telegraph:

"There was no tax advantage or purpose whatsoever.

I would like to put on the record an apology from both myself and Douglas for the unacceptable events that took place at our private bank in Switzerland in the mid-2000s. It is an apology we would like to make to you, our customers, our shareholders and the public at large. 

It clearly was unacceptable. We very much regret this, and it has damaged HSBC's reputation."

Asked precisely what he was apologising for, Gulliver said:

"The lack of controls and practices which now - judged with the benefit of hindsight - we would not be at all comfortable with if they were happening today, and which have clearly resulted in damage to trust and confidence in HSBC and created further reputational damage to our firm and have therefore hurt clients, customers, shareholders, our staff and people at large." 

Flint told the Treasury select committee that he blamed the failings at the Swiss unit on its management, and said secrecy surrounding banking in the country made it difficult for him to have a direct line of sight of what has happening at the bank (funny way to run a bank!). Chairman of the bank since the end of 2010, Flint was finance director at the time the Swiss subsidiary was purchased by HSBC.

Homer, for her part, admitted that she is concerned by the perception that HMRC is soft on the rich and tough on the poor. The fact is that low hanging fruit, unprotected by lawyers and tax professionals, are an easy target for HMRC.

John Mann asked her:

"What would you do if you discovered any parliamentarians were dodging tax?"

Lin Homer replied that she’d have to check “whether I had an obligation, or an ability, to refer” them to the parliamentary authorities.

She went on to assure PAC that where there are people in positions of responsibility, HMRC does act.

Homer repeated that HMRC doesn’t expect a ‘waterfall’ of new prosecutions, even though it can now share the Swiss data with other agencies.

Homer denied that Hartnett has any inside information on HSBC’s Swiss bank, or HMRC’s systems etc etc.

Here is the transcript.

So everything is basically fine, nothing to see here move along please!

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

Tax Evasion The Luvvie Way!

Emma Thompson 'won't pay a penny of tax' says her husband http://t.co/Xcn1KPZIcp via @mcdonnellandco // the moral hazard created by #HSBC

— Rita de la Feria (@delaFeriaR) February 25, 2015

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

HMRC Shortlisted For Awards

Congratulations to HMRC for being shortlisted for two awards at the 2015 Opportunity Now Excellence in Practice Awards:

- for advancing women, and
- for directing diverse talent

Hoozah!

The Advancing Women Award
This award is for a particular initiative/intervention which aids the recruitment, retention, development and/or progression of women and can encompass women at all levels – from non-managerial to the board room. For example: a training initiative or career development/leadership programme or a recruitment/progression strategy or initiative.

The Directing Diverse Talent Award
This award is a collaboration between Opportunity Now and the CIPD to acknowledge the significant role that HR has to play in progressing the gender/diversity agenda. It recognises an exceptional HR director, manager or practitioner who has demonstrated a real commitment to inclusive management of talent. It acknowledges a game-changer who has shown a passion and dedication to developing women/diverse talent.

The ceremony will be held at the Park Lane Hilton on the evening of 21 April.

Tables for ten people are a mere £3K plus VAT.

By happenstance two other organisations that HMRC will be rubbing shoulders with on that evening are:

-HSBC (in the news recently)
-PwC (advisors on tax avoidance schemes and donors to the Labour party)

Plenty to talk about there then!

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

Swiss Police Raid HSBC Geneva Office

URGENT: Swiss police raid #HSBC Geneva office in money laundering probe http://t.co/wO2gXuf9pZ pic.twitter.com/0S8pnrHrYA
— RT (@RT_com) February 18, 2015

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

HSBC Taxgate Email Unearthed

Le Monde have a copy of the email which Herve Falciani, the whistleblower at the centre of the HSBC taxgate scandal, sent to HMRC in 2008.

This is very fortunate because, by happenstance, Homer and HMRC say they have no record of any such email being sent at the time.

Vive La France!

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

HMRC To Bring In SFO and Police

Either as a result of yesterday's PAC hearing, or by happenstance, HMRC (according to the BBC) will be bringing in the police and SFO wrt the HSBC tax evasion scandal.

We shall see!

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

Edward Troup Pulled From HSBC PAC Hearing

Edward Troup, HMRC’s second permanent secretary, was to have appeared at today's PAC hearing into HSBC.

However, HMRC have pulled him at the last minute.

Anyone know why?

HMRC are denying he was due to appear.

.@JolyonMaugham That's right. Edward Troup was never due to appear. It was always to be Lin, Jim and Jennie.
— HMRC Press Office (@HMRCpressoffice) February 11, 2015

Homer also issued a denial:

.@JolyonMaugham Hi Jolyon, that is not correct. Here’s our statement: pic.twitter.com/31A6y2vv9U
— HMRC Press Office (@HMRCpressoffice) February 11, 2015

Yet he is mentioned on Parliamentary Business.

Could it be HMRC is "confused"?

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

Homer, HSBC and PAC

Lin Homer has a busy day today, she will be up before PAC later today to discuss HSBC.


Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

The Revolving Door Revolves In HSBC's Favour

Lucky for HSBC, the go to bank for tax advice, that it has Dave Hartnett onboard as honesty advisor.

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

HSBC Recruits Dave Hartnett

I see that HSBC has recruited Dave Hartnett (who retired from HMRC last year) who, along with others, will head a new financial crime committee that will be set up to ensure tighter compliance with tightening global regulations.

The setting up of the committee follows HSBC's settlement in December of allegations by US regulators that it had moved billions of dollars in cash from its affiliate in Mexico to the US, despite concerns raised with HSBC that the money could only have involved proceeds from illegal drugs.

The $1.9BN fine was the largest ever imposed on a bank.

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



Tax Investigation for Dummies, by Nick Morgan, provides a good and easy to read guide for anyone caught up in an HMRC tax investigation. A must read for any Self Assessment taxpayer.

Click the link to read about: Tax Investigation for Dummies

HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"