The High Court has set a hearing date for UK Uncut to take legal action against HM Revenue and Customs (HMRC) on 13 June 2012. During the hearing HMRC will be required to defend decisions that allowed investment bank, Goldman Sachs to allegedly avoid £10m in tax. In December of last year, Dave Hartnett, HM Revenue and Custom’s chief admitted to Parliament’s Public Accounts Committee that lawyers had not been consulted prior to the Goldman Sachs decision and £24m, allegedly owed by the investment bank for avoiding national insurance contributions on staff bonuses, should have been demanded by HMRC.
Acting on behalf of UK Uncut, assistant solicitor of Leigh Day & Co law firm, Rosa Curling, said:
“At this time, when public services are being cut, it is crucial that HMRC ensures all monies owed to them by companies such as Goldman Sachs are paid in full. The rules have to be applied fairly and equally. Goldman Sachs is one of the world’s richest banks. It cannot be right that they are let off millions of pounds in tax owed to the UK government.”
Following information that emerged from ‘whistleblowers’ within HMRC, UK Uncut requested disclosure of a variety of documents to support their ongoing claim; Requests which are yet to receive a response.
Director of UK Uncut legal action, Tim Street, said:
“A judicial review is clearly necessary and we’re confident that we have a strong case. The decision by HMRC to let Goldman Sachs off an alleged £10m tax bill must be reversed and the money handed over to the public purse.”
Last week reports emerged that recorded profits for Goldman Sachs in recorded in the last quarter (to 31 March 2012) reached £1.32bn. The investment bank is yet to oppose the hearing.
Although it is the legal structuring of tax affairs, if HMRC deem a tax avoidance scheme to be ‘aggressive’ they will work to close it down.
Call and speak to a tax avoidance investigation professional today on 0800 471 4546