TaxAdministrationRevenue chief’s job not under threat

Revenue chief's job not under threat

The Inland Revenue has denied that its chairman, Sir Nick Montagu, could face the sack over his role in controversial property sales to a Bermuda-registered company.

Link: Revenue slammed over property ‘cock-ups’

The Revenue denied Sir Nick’s job was under threat, following a report in the Mail on Sunday which said Sir Nick could be sacked.

The Sunday paper said a Treasury Select Committee report, due to be issued this week, would criticise some senior Revenue figures as well as certain management failures, over the sale of 600 Revenue properties to Bermuda-based company, Mapeley Steps Ltd late last year.

The sale raised £220m and took advantage of tax avoidance schemes similar to the ones Montague has lambasted UK plc for using.

But the Revenue said Sir Nick had already ‘apologised’ over the affair. A spokesman told AccountancyAge.com: ‘Sir Nick will not be moving from his post,’

Furthermore, a spokeswoman for the Treasury Select Committee told AccountancyAge.com that it had not yet decided whether to release the report, and that a decision would be made later today.

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