Oops! Goldman Sachs let off paying £10m interest on failed tax avoidance scheme

[malaise]

http://www.guardian.co.uk/business/2011/oct/11/goldman-sachs-interest-tax-avoidance
<snip>
Leaked documents show top tax official shook hands last year on secret settlement described by sources as a 'cock-up'
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.

Documents leaked to Private Eye magazine and published in full by the Guardian record that Britain's top tax official, HMRC's permanent secretary Dave Hartnett, personally shook hands on a secret settlement last December.

Hartnett is due to be questioned on Wednesday by the Commons public accounts committee. The leaked documents suggest that a previous PAC chairman, Edward Leigh, was misled when he was told it was illegal to reveal details of such cases to parliament.
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Record of a meeting on 8 December 2010 chaired by HMRC general counsel Anthony Inglese revealing that permanent secretary Dave Hartnett shook hands on secret settlement with Goldman Sachs
http://www.guardian.co.uk/business/interactive/2011/oct/11/minutes-meeting-goldman-sachs

[aquart]

1. Still too big to jail?

[sharp_stick]

2. I'm really starting to wonder if we should

ask the French to grease up the skids on a few of those old guillotines they have in storage.

Some of the shit that's going on should at the very least result in significant jail time for a lot of board room assholes.

[malaise]

3. This must be the most corrupt British Government in decades

:puke:

[jwirr]

4. Might just as well make a deal - it would have been our bailout money

that paid the debt off anyhow. :sarcasm: