Sunday, October 23, 2011

The HM Revenue & Customs boss seems to think it's okay to skip the big financial pay their dues

If the British think of their tax collectors with anything other than resentment, they think they are a boring collection of men and women. Hearing Dave Hartnett, Permanent Secretary to Her Majesty for the tax, one could imagine a meticulous bureaucrat with no sense of humor every day to return to a suburban home counties.

He kissed his wife, but not very passionate, involved in a hobby right for an officer of revenue - the construction of a miniature railway, maintenance of the herbaceous border - a glass of wine with dinner and bedtime.

Newsnight provide most excitement in your life. Dave Hartnett sinister accomplishment is to have an income for you. The recording of socialization with the institutions of the city which is intended to tax is stressful in itself. Lunch at BDO Stoy Hayward, Deloitte welcome drink, dinner at KPMG, a breakfast place in the JP Morgan Cazenove, followed by pats on the back even more, and hail fellow well-Town Meeting to 107 breakfast , lunch and dinner in the space of two years. better than the Parliamentary Public Accounts Committee of Commons, I can say is that I do not think Hartnett is corrupt. They accused him of "lying" to Parliament and to "steal" the taxpayer. They said it was probably the investment banks the most rapacious and unscrupulous in the world never returned affectionately given to "a small company that is persecuted and punished for interest payments," and rejected his explanation "ridiculous". But do not think he is having.

They believe they suffer from delusions of grandeur.

Back before the crisis of 2008 and remember how politicians, bureaucrats and journalists to treat high finance. None of the media who covered business - not the

Wall Street Journal

, Bloomberg News,

Economist

Forbes

fortune

Financial Times

, served their readers well, but their editors and their colleagues remained silent when it comes to have made a difference. Meanwhile, a Labour government, nominally committed to the defense of the majority, not a few, Sir dangerous men at the head of its banks to ruin - Fred Goodwin of RBS and HBOS James Crosby - and somehow found a way to turn, Alan Greenspan, who had inflated the biggest bubble in the history of capitalism, "Sir" Alan Greenspan, although as an American citizen made a knight unlikely that the Kingdom. Meanwhile, regulators in Britain, America and beyond will not produce a valid research or trying to fulfill their duty and protect their country.

In all the explanations for the failure of regulatory agencies of democratic societies, we should not underestimate the seductive power of worship. Faced with financial mysteries that seemed to dominate globalization, regulators wanted to be his friends and hopes that the investment banking chief who treat them as equals, if only for a while. The problem with Hartnett is that despite everything we have lived, still does.

If a politician, the press and the opposition that forced him to resign now for the favors given to Goldman Sachs. Revenues had fought for five years to collect taxes and national insurance due on salaries and bonuses Goldman bankers who had paid their accounts in the British Virgin Islands. Other companies that have tried the same trick has admitted breaking the law and pay taxes and penalties back. Goldman stuck for years and challenged "all the points imaginable." If you, dear reader, does the same, the income will be fine and imprisonment if you refused to comply.
But Hartnett could not have been nicer to Goldman. He showed that he, a humble servant of HM Revenue & Customs, could be "a player" - go to someone who could deal with the large - for imperative reasons of their subordinates. He called an officer of Goldman Sachs in New York and allowed the bank to escape the penalty and interest payments in exchange for paying millions in taxes.


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