Market leading insight for tax experts
View online issue

The Banking Code of Practice

How is the Banking Code of Practice working and does the Code preclude the need for a GAAR?

‘The moon is made of green cheese’: a statement of folkloric motif widespread among many of the world’s cultures. It is both a proverb and metaphor for credulity with roots in fable referring to the perception of the simpleton who sees the reflection of the moon in water and mistakes it for a round cheese.

I was reminded of the metaphor very recently when faced with the government’s new stance on the Banking Code of Practice on taxation. The new Code governance protocol seems to needle further an already bristly relationship. The protocol sends these clear messages to banks: the law is what HMRC says...

If you or your firm subscribes to Taxjournal.com, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
EDITOR'S PICKstar
Top