Taxman accused of letting Vodafone off £8 billion - UK

[dipsydoodle]

Source: Daily Telegraph

MPs attacked HM Revenue and Customs for allowing Vodafone to pay just £1.25 billion to settle a tax dispute and claimed the amount lost to taxpayers lost may be even higher than previously thought.

They even took the extraordinary step of forcing Anthony Inglese, HMRC’s top lawyer, to swear on the Bible that he was telling the truth about a series of deals with major companies and banks.

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HMRC is also under fire for letting Goldman Sachs, the giant US investment bank, off paying £10 million interest on a long disputed tax bill.

Mr Hartnett has previously admitted this was a mistake. He confirmed yesterday that lawyers were initially not consulted about whether Goldman Sachs was liable for the interest on a £30 million bill from a failed tax avoidance scheme on bankers’ bonuses.

Read more: http://www.telegraph.co.uk/news/politics/8875360/Taxman-accused-of-letting-Vodafone-off-8-billion.html

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HMRC top lawyer forced to swear oath in Parliament.

MPs questioning the top lawyer at HM Revenue and Customs have taken the unusual step of making him swear an oath to tell the truth.

Members of the Commons Public Accounts Committee felt they had been unable to get answers from Anthony Inglese.

The session was part of an inquiry into tax deals negotiated by HMRC with Vodafone and Goldman Sachs.

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Goldman Sachs negotiated a deal with HMRC, which the committee said had saved the investment bank between £8m and £10m.

http://www.bbc.co.uk/news/business-15630606