09 December 2014

PwC tax team accused of lying by MPs

The head of tax at the Big Four accountant was accused of lying by Members of Parliament over the way the Luxembourg office promoted tax advice.

PwC faces the music in Luxembourg Marcin Krzyzak

Kevin Nicholson was giving evidence to the Public Accounts Committee after documents emerged relating to its tax advice to 340 multinationals. MP Margaret Hodge, chair of the committee, said that Mr Nicholson was 'lying' when he said that the firm was not mass marketing tax avoidance schemes to clients. 

Mass marketing

She said: 'Mass marketing is if you have a scheme you market to other companies. That is why I accused you of lying, and I don’t do that lightly. You have advised on the same scheme, you have written to Luxembourg yourself.  I don’t see how that isn’t mass marketing.' She used to work at PwC as a consultant. Mr Nicholson denied the charge, saying that advice was given to each individual client to suit their needs. PwC has a code of conduct which says it will not sell schemes solely to obtain tax advantages. Mr Nicholson says that the tax team has not breached this code. Source: Independent

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