HSBC investigated over £134m 'tax evasion' scheme

Written by Adam Cadle
03/04/2018

HSBC is being investigated over a £134m 'tax evasion' scheme created by the bank, The Times has revealed.

Three former employees at the bank's London office have been interviewed under caution for their role in devising a tax scheme that sought to help wealthy backers save millions of pounds in tax.

HSBC has earned fees of around £2m for licensing the scheme, which involved the sale of film rights to the finance company Zeus Partners in 2008.

City bankers and financial advisers who had previously been charged with cheating the public revenue, an offence that can lead to lengthy custodial sentences.

    Share Story:

Specialist FTB and BTL markets
Adam Cadle talks to Vida Homeloans director of sales - mortgages Louisa Sedgwick about the specialist first time buyer and buy to let markets

Newsletter

Subscribe to our newsletter to receive breaking news by email.




MoneyAge welcome
MoneyAge Editor Adam Cadle discusses the brand and what is on offer

World Markets (15 minute+ time delay)