Time for fairer tax collection

Indeed, the pressure group UK Uncut is hoping to stoke up this indignation still further with its High Court challenge to Her Majesty’s Revenue and Customs over a deal struck with Goldman Sachs whereby the bank repaid a debt owed to HMRC but was allowed to keep the interest that had accrued during a five-year dispute.

The point that the pressure group is happy to miss is that, had the Revenue not come to an agreement with Goldman Sachs, the dispute would have dragged on for longer and, had it gone to court, may have resulted in HMRC losing, thereby costing the taxpayer even more money.

Even so, the arrangement leaves a sour taste in the mouth because there is an issue of fairness here over and above UK Uncut’s usual agenda of fostering envy of the rich and hatred of success.

For the simple fact is that it appears far easier for large and wealthy companies to reach cosy deals with the taxman than it does for the ordinary individual who receives a non-negotiable stiff penalty the moment he or she steps out of line.

This is why the Government has to ensure that the tax system is operating as fairly as possible and that corporate tax avoidance is minimised. The latest deal committing more so-called tax havens to disclosing bank details of British taxpayers represents progress towards the sort of transparency that is needed, but there is still a long way to go.