Lloyds Banking Group - Controversies - Tax Avoidance

Tax Avoidance

In 2009, a case was brought against Lloyds by HM Revenue & Customs on grounds of tax avoidance. Lloyds were accused of pouring hundreds of millions of pounds into transatlantic tax avoidance schemes in the form of loans to American financial institutions.

Read more about this topic:  Lloyds Banking Group, Controversies

Famous quotes containing the words tax avoidance, tax and/or avoidance:

    Tax avoidance means that you hire a $250,000-fee lawyer, and he changes the word ‘evasion’ into the word ‘avoidance.’
    Franklin D. Roosevelt (1882–1945)

    In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
    Alexis de Tocqueville (1805–1859)

    Tax avoidance means that you hire a $250,000-fee lawyer, and he changes the word ‘evasion’ into the word ‘avoidance.’
    Franklin D. Roosevelt (1882–1945)