|
|
24 Jul 2009
The Financial Services Authority is considering imposing sanctions on bank bosses who overlook tax avoidance schemes in helping customers avoid paying tax.
Hector Sants, chief executive of the FSA, confirmed the issue would be included as part of a consultation paper expected in the autumn, according to guardian.co.uk
Lord Turner, chairman of the FSA, said: 'The whole overlap between tax and regulatory arbitrage and the fit and proper test is one we are still thinking about.'
In addition, he said tax avoidance is a complicated area, and the FSA is 'not a tax enforcement agency.'
HMRC said the department has good relations with the FSA, and will continue to liase with the regulator over issues, including taxation for banks.
Further Reading:
You may also like
Search thousands of financial jobs:
£50000 - £65000 per annum + benefits + bonus: Pro-Tax: Excellent Share Schemes role London ...
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment
Clearly Now
Hector`s logic is sufficiently clear for him to join the Labour cabinet
Posted by: j griffin, 24 Jul 2009 | 00:00