Leaked HSBC documents name thousands dodging hundreds of millions in tax by using private Swiss accounts

KJ needs it all explained to him by Fee...

SOURCE DAILY MAIL: HSBC arm 'helped clients evade taxes' as thousands of clients including celebrities and sports stars hold secret Swiss accountsThe Swiss arm of HSBC, Britain's biggest bank helped wealthy clients such as sports stars, celebrities and politicians evade huge amounts of tax, according to an investigation by journalists. The Guardian newspaper and the BBC's Panorama programme analysed details of 30,000 thousand accounts holding nearly £78billion worth of assets and say they found evidence of secret Swiss accounts being used to help clients deliberately conceal assets from tax authorities. Holding a secret bank account is not itself illegal, using such accounts to deliberately conceal assets in order to evade tax is against the law. The leaked documents have already prompted a series of criminal probes in several counties. In the UK, HM Revenue & Customs, which received the data in 2010, has clawed back £135million from over 3,600 Britons. But it has faced complaints from MPs over the pace of progress and the fact that only one evader has been prosecuted.

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