There is a temptation to let the lying dogs sleep. A good example of this is the information provided by whistleblower Hervé Falciani, which showed that HSBC’s Swiss operations might have helped wealthy people to dodge taxes. Only one individual from the Falciani list of some 3,600 potential UK tax evaders has been prosecuted. In January, HMRC quietly abandoned its investigation.
This is evidence that his friends in the PCS should get more money by increasing HMRC’s budget.
Except of course that’s not what really happened, is it?
The leaked HSBC files held the names of 6,800 British individuals and companies. Due to duplication, this involved 3,600 individuals. One thousand were subjected to a full HMRC probe, which yielded £135 million in back-taxes and penalties.
Criminal prosecutions could not be taken on the back of the leaked Swiss files alone, Gauke told MPs, because the Crown Prosecution Service believed that corroborating evidence would be needed for a guilty verdict.
In a statement, HMRC said it has brought in £2 billion in previously unpaid taxes from Switzerland and Liechtenstein, adding that the maximum penalty now for hiding money in tax havens is 200 per cent of the tax evade.