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    HSBC

    I haven't seen the Panorama special yet, but this looks like bring a fascinating and hopefully bracing attempt to truly get some of the cold, calculating fuckers who seem to be given carte blanche to do what they like even if given the stunningly bizarre freedom of legality sweating like pigs. What surprises me (but shouldn't) is that you'd think that a bank's previous involvement in Mexican drug-smuggling finances would have seen an intense platform of outrage sooner, but perhaps that might bring a little more attention in view of the latest fuck-up.

    It also might bring into sharper relief the role of uber-cunt Dave Hartnett, he of HSBC employ, whose previous incarnation of chief tax executive bod at HMRC enabled his current employers a major help in avoiding tax, but I'm not holding my breath.

    The downside of all this is that it might all end in mumbled apologies, slapped wrists and 'learning lessons' when some collars should be truly felt and cuffs put on. But we'll see.

    #2
    HSBC

    What do voters think when they hear Cameron on the radio, saying that the Conservative Party are entirely committed to chasing down and prosecuting tax evasion cheats, when all the evidence points to the exact opposite position, and only one week after some cunt from Boots who pays less tax than my grandad is spouting off over who should run the fucking country? He's got us for mugs, hasn't he? It's the political equivalent of pissing on a group of care home workers while wiping his arse with a £50 note and then setting fire to it.

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      #3
      HSBC

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        #4
        HSBC

        And I guess those 300 are not led by Gerard Butler either. More's the pity perhaps...

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          #5
          HSBC

          Can you have spoilers for a news report? Look away if so.

          I thought that the most telling detail in the programme was that one of the Swiss operation's clients was invited to pick up some of his cash from his local branch. It shows how much discretion and track covering HSBC thought was necessary to avoid the attentions of HMRC.

          Otherwise the programme suffered a bit from a 'Who knew!' factor, as the basic point was repeated over and over again, and from too much time being spent in Cook Report style attempts by the reporter to goad someone into losing their rag with him. There was a ridiculous moment when a comparatively small fry told him that he isn't a very nice person and he actually responded to the effect that actually he is and was just doing his job. Hopefully the Guardian will have the space to dig a little deeper.

          Geoffrey's graphic says it all about the government's priorities on this.

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            #6
            HSBC

            Yeah, but people have ISAs, so they're just as guilty.

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              #7
              HSBC

              Is there anything in this that hasn't been in Private Eye of the past couple of years?

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                #8
                HSBC

                Is there anything in this that hasn't been in Private Eye of the past couple of years?

                What hasn't been featured wouldn't fill a thimble. Private Eye have been on the ball with this for what seems like ages and if most of what they also cover in its back pages (some of the most depressingly astounding abuses of power and influence that I can hardly bring myself to read) was given the Panorama treatment, hell would break loose.

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                  #9
                  HSBC

                  Whoops

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                    #10
                    HSBC

                    I used to work with Dave Hartnett. My recollections of the [strike]humourless cunt[/strike] man are probably best left for my memoirs.

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                      #11
                      HSBC

                      That "explanation" never made any sense.

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                        #12
                        HSBC

                        that's misleading parliament isn't it? So the HMRC woman will have to move to a major accountancy firm, but the tory toad will keep his job.

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                          #13
                          HSBC

                          And, of course, it comes out that Ed and Dave have themselves entered into an arrangement specifically designed to avoid inheritance tax ...

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                            #14
                            HSBC

                            Hartnett's already been caught misleading parliament over Vodafone.

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                              #15
                              HSBC

                              Then again.

                              But a Labour spokesman said: "Ed paid 40% capital gains tax when the house was sold in 2004/05. It can't be tax avoidance if no tax was avoided."
                              (If you're quick I'm sure there's a job going for you down at Northcliffe House)

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                                #16
                                HSBC

                                The Awesome Berbaslug!!! wrote: that's misleading parliament isn't it? So the HMRC woman will have to move to a major accountancy firm, but the tory toad will keep his job.
                                I doubt Lin Homer will be in much trouble, she previously got away with repeatedly misleading parliament when head of UKBA, an agency so badly mismanaged that it had to be dismantled (though not before Homer got promoted to HMRC for her sterling leadership.) The woman truly seems unsinkable.

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                                  #17
                                  HSBC

                                  It's quite interesting, because HMRC appear to take their cues from the security services when it comes to lying to Parliament.

                                  It's a rather remarkable state of affairs, but unsurprising given the extent to which facilitating tax avoidance by the ultra rich has become a central tenet of British policy under the last several governments.

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                                    #18
                                    HSBC

                                    But a Labour spokesman said: "Ed paid 40% capital gains tax when the house was sold in 2004/05. It can't be tax avoidance if no tax was avoided."
                                    Capital gains tax is not inheritance tax, Ed.

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                                      #19
                                      HSBC

                                      Ginger Yellow wrote:
                                      But a Labour spokesman said: "Ed paid 40% capital gains tax when the house was sold in 2004/05. It can't be tax avoidance if no tax was avoided."
                                      Capital gains tax is not inheritance tax, Ed.
                                      You know that Marion Kozak is still alive, right?

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                                        #20
                                        HSBC

                                        what exactly is a deed of variation?

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                                          #21
                                          HSBC

                                          Estate planning and politics is a funny one. Obviously, Ed's spokesperson is exactly right - Ed has not avoided any tax. However, he has set up a framework that will look to minimize his inheritance tax liability when he dies. At which point he is dead and he will welcome you taking up the point with him then (though likely will not reply).

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                                            #22
                                            HSBC

                                            Ginger Yellow wrote:
                                            But a Labour spokesman said: "Ed paid 40% capital gains tax when the house was sold in 2004/05. It can't be tax avoidance if no tax was avoided."
                                            Capital gains tax is not inheritance tax, Ed.
                                            What inheritance?

                                            He's sold the property so it's not his to pass on, surely?

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                                              #23
                                              HSBC

                                              I've shared a moment with Dave Hartnett when our eyes met after he spotted the Private Eye with the special report about the Mapeley deal he brokered and signed off laid on my desk.

                                              That man should be in jail.

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                                                #24
                                                HSBC

                                                Funnily enough, that STEPS deal is about the only Mapeley property portfolio that isn't completely fucked, from their perspective.

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                                                  #25
                                                  HSBC

                                                  It might be soon.

                                                  It's more the HSBC stuff that bugs me, mind.

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