Where am I? 
Home Better Business
A number of UK bankers have been arrested following an investigation into tax fraud by HMRC.
The arrests last week included four current employees, and one former employee, of RBS, as well as individuals from two other banks.
HM Revenue and Customs said the arrests concerned the financial affairs of the individuals, and were not related to their work for the bank.
The arrests are the result of a three-year investigation by HMRC into people suspected of evading tax by using a film finance loophole, reports the BBC.
An HMRC spokeswoman said: "As a result of an ongoing HMRC investigation into tax-related criminal offences, HMRC has arrested a number of people, some of whom work for UK banks.
"This investigation relates to the actions of the people arrested in relation to their own financial affairs, and is not connected to the business activities of the banks."
| Share | |
| Comment | Bankers arrested in HMRC tax probe |
More better business news
Email alerts
Recommended reading
Categories
Topics
Comments
Dogs life
Should have set the investments up in the name of his dog!
Posted by: paul burnside
Close the loopholes
As Harry has said above the cost of recouping (or not) make all the efforts futile. What should be done is close all the loopholes(Film schemes, EBTs, offshore Trusts etc..)which have been abused
Posted by: Wornout
Related articles
Most Read
Audio / Visual
With the industry's biggest fund managers, IFAonline welcomes you to the media centre.
This year we have 14 awards designed to mark out the very best products in a highly competitive and innovative market. This includes three new awards for 2011 to reflect the developments in this rapidly growing market: Best Dual/Multi-Index Product, Best Structured (Oeic) Fund and Best Structured Product Provider.
Events
Poll
|
|
Job search
Ifaonlinejobs will open the right investment career path for you. Search hundreds of vacancies on www.ifaonlinejobs.co.uk now
In Focus
Viewpoints
About 2.66 million people are looking to increase the amount of money...
sponsored by
The higher the taxes the more the scams.
Another series of dawn raids. How much will it all cost at the end of the process? How much will they recover in tax? Are we facing another Redknapp event? The opportunity to get a 0.8% return on cost? Always presuming a successful prosecution. Yes it is wrong to defraud – tax or anything else. But the way this is being handled seems to come straight out of the Gestapo manual.
Posted by: Harry Katz