Party donors had HSBC Swiss accounts

Written By Unknown on Rabu, 11 Februari 2015 | 19.12

11 February 2015 Last updated at 12:06

A former Tory treasurer, a current Tory MP and donors to British political parties are among those known to have held Swiss bank accounts with HSBC.

Holding a Swiss bank account is not illegal and does not prove either tax evasion or tax avoidance.

But HSBC's role in helping clients avoid tax is under the spotlight after a BBC/Guardian investigation.

Ed Miliband is quizzing David Cameron about the issue at prime minister's questions.

Lord Fink, who stepped down as Conservative co-treasurer in 2010, and Zac Goldsmith, Conservative MP for Richmond Park, are among those named in documents seen by Panorama.

The Guardian has also published names of Swiss account holders. They report Conservatives have raised more than £5m from HSBC clients with Swiss accounts.

Labour have benefited, the Guardian says, from cash and gifts in kind worth well over £500,000 and received a loan for £2m.

The individuals named may have held the accounts for a wide variety of reasons and there is no suggestion they did anything wrong.

Labour is calling for Lord Green, who was the most senior figure at the bank for much of the time the documents cover, and the prime minister to make a full statement about his role at HSBC, and his appointment as a government minister in 2011.

The boss of HM Revenue & Customs will appear before a panel of MPs later on Wednesday and will face questions about its role in the HSBC tax evasion row.

The Public Accounts Committee (PAC) will hear from Lin Homer at a scheduled hearing which will be spiced up by this week's revelations about HSBC.

The bank helped 100,000 individuals - 7,000 UK nationals - with tax affairs.

On Tuesday, HMRC said it could not share information it had about the bank because of an international agreement.

HMRC was passed a hoard of documents in 2010 from France about clients of HSBC's Swiss operation.

The PAC is also planning to hear from Lord Green.

The scandal has triggered promises of scrutiny from around the world.

Offshore accounts are not illegal, but many people use them to hide cash from the tax authorities. And while tax avoidance is perfectly legal, deliberately hiding money to evade tax is not.


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