Tax Avoidance

Mr. Austin Mitchell
To ask the Chancellor of the Exchequer how many tax avoidance schemes are marketed by banks regulated by the Financial Services Authority.

Ian Pearson
Under the Disclosure of Tax Avoidance Schemes Regime, promoters are required to provide information to HMRC about avoidance schemes falling within certain statutory descriptions. This must be done within five days of the schemes being made available or implemented.

Disclosure Statistics are published six-monthly on the HMRC website. The statistics can be found at:

http://www.hmrc.gov.uk/avoidance/avoidance-disclosure-statistics.htm