"... that the National Audit Office is now launching an inquiry into the way that HMRC reaches tax settlements with major clients. When the NAO report comes out, top tax officials can expect a grilling from MPs on the public accounts committee... The furore is an embarrassment for the government. It means that, in the age of austerity, there is a perception – whether fair or not – that HMRC is selling out to big business."
This is great news and shows that direct action taken against big corporate entities like Vodafone and Arcadia does work. With thousands of people taking to the streets and closing down shops in peaceful protest the resultant publicity has stirred the National Audit Office into taking action by investigating how HM Revenue and Customs settles tax disputes with the corporate giants. The subsequent report will then be considered by the powerful House of Commons Public Accounts Committee who will hopefully recommend to government the need to tighten up on tax avoidance loopholes.
HT to #ukuncut.