David Nuttall
Main Page: David Nuttall (Conservative - Bury North)Department Debates - View all David Nuttall's debates with the HM Treasury
Tax Avoidance (HSBC)
David Nuttall Excerpts(9 years, 10 months ago)
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Mr David Nuttall (Bury North) (Con)
Can my hon. Friend reassure those of my constituents who seek to reduce their tax liability by, for example, investing in individual savings accounts—whether it be through HSBC or anyone else for that matter—that they are doing nothing illegal, and that it is only those seeking to evade tax by deliberately concealing their income, thereby misleading HMRC, who are breaking the law and risking prosecution?
Mr Gauke
Tax evasion is a criminal offence, and action will be taken in that regard. I should add that we also take firm action against aggressive, contrived, artificial avoidance. Having an ISA does not fall into that category, which is consistent with what Parliament intended, but when people try to abuse the rules, we will take action.