Britain's tax authorities have given Goldman Sachs an unusual and generous Christmas present, leaked documents reveal. In a secret London meeting last December with the head of Revenue, the wealthy Wall Street banking firm was forgiven £10m interest on a failed tax avoidance scheme.
HM Revenue and Customs sources admit privately that the interest-free deal is "a cock-up" by officials, but refuse to say who was responsible
It has been reported that Goldman and a host of other banks avoided paying British national insurance on bonuses in the 1990s by setting up “companies” in offshore tax havens. [Guardian]
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