Paul Flynn – 2015 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Paul Flynn on 2015-02-11.

To ask Mr Chancellor of the Exchequer, what discussions he has had with (a) the Crown Prosecution Service, (b) the Attorney General, (c) HM Revenue and Customs and (d) the Financial Conduct Authority on the use by UK residents of the provisions of the European Savings Directive to avoid paying UK tax by opening anonymous bank accounts in jurisdictions abroad since 1 January 2015.

Mr David Gauke

The European Savings Directive has been in force since 2005. It is a mechanism for achieving tax compliance through either disclosure of investment income data to the tax jurisdiction of the individual concerned or (in limited circumstances) applying withholding tax at source as an alternative to information disclosure.