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Political tax avoidance row 'disingenuous' - finance firm chief
The growing political row over tax avoidance is "unhelpful and disingenuous" and detracts from the more important conversation of combating evasion, a financial advisory firm's chief says.
The issue of so called 'tax dodging' has come to the fore after an investigation into HSBC and its Swiss operations by the Guardian and BBC 1's Panorama.
Labour and Conservatives have clashed over the issue, with last week's Prime Minister's Questions dominated by the matter.
HSBC took out full page adverts in weekend newspapers to issue an apology over past at its Swiss operations.
Nigel Green, founder and chief executive of deVere Group, said the claims that clients had been helped to evade hundreds of millions of pounds in tax "deeply disturbing."
He said: "The reports on this issue have highlighted the growing and serious global problem of tax evasion. Clearly, more must be done and tackled head on and with vigour."
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Mr Green said it was important to make the clear distinction between legal tax avoidance and illegal tax evasion.
Mr Green said: "However, the escalating political rhetoric surrounding this issue is largely unhelpful and detracts from the important conversation that is needed to combat tax evasion.
"It seems somehow disingenuous of politicians to bemoan that HMRC is 'not serving the British taxpayer' on the issue of tax avoidance and/or tax evasion - politicians are the ones who have the power to reform the rules if they wish.
"It would appear that HMRC is simply playing the best hand it can with the rules established by politicians and with the tools and resources they have at their disposal.
"Action, not moral outrage by politicians, is required to deal with tax evasion."