Revenue to appear in court over Goldman Sachs ‘sweetheart’ deal | The Guardian

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Revenue to appear in court over Goldman Sachs ‘sweetheart’ deal

The UK Uncut campaign to challenge the very favourable tax deal that Goldman Sach’s got with the UK’s Inland Revenue service, letting them off a £10 million tax bill, has provides lots of dividends. HMRC have had to defend themselves in court…

During parliamentary committee hearings in December, HMRC chief David Hartnett admitted that he did not consult lawyers properly and should have demanded that Goldman pay interest on £24m owed after the bank spent years trying to avoid paying national insurance payments on UK staff bonuses and a further five years resisting HMRC’s claims.

Internal minutes from December 2010, previously published by the Guardian, also show that Hartnett personally had “shaken hands” on a deal with top Goldman representatives which allowed the bank to repay only the principal sum owed.

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Donagh is the editor of Irish Left Review. Contact Donagh through email: