Goldman Sachs was permitted an improper £10 million tax exemption by HMRC (Revenue and Customs) and the deal is being challenged in court. UK Uncut Legal Action has accused customs officials of giving Goldman special treatment.
UK Uncut makes high court challenge to Goldman Sachs tax deal
By Shiv Malik - The Guardian
. . . .
The high court in London is expected to hear that a multi-million
pound agreement sealed with a handshake between David Hartnett, the head
of HMRC,
and Goldman Sachs senior employees, which permitted the investment
conglomerate to keep back £10m in back taxes, should be quashed under
judicial review.
UK Uncut Legal Action
have accused customs officials of giving the US multinational giant
favourable treatment in a settlement of a tax dispute which saw Goldman
Sachs let off £10m in interest payments.
Their accusations were backed by HMRC's own internal minutes
from December 2010, showing Hartnett's personal involvement in the deal
with top Goldman representatives which allowed the bank to repay only
the principal sum owed.
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