ACCOUNTANCY FIRMS AND TAX

That this House urges the Government to investigate the role of KPMG, PricewaterhouseCoopers, Deloitte, Ernst and Young, Grant Thornton and other accountancy firms in tax avoidance and evasion, and in devising, marketing, promoting and implementing aggresive tax avoidance schemes which have no commercial substance and whose sole purpose is to avoid UK taxes on income and profits, thus enabling their wealthy and corporate clients to avoid taxes and national insurance contributions by transfer pricing, artificial loans, inflated management charges, special purpose vehicles, joint ventures, fictitious assets, offshore schemes and secretive trusts, all designed to deprive the Treasury of billions of pounds of tax revenues which in turn forces the Government to curtail social investment and shift the tax burden onto ordinary individuals, resulting in regressive tax burdens and distribution of wealth and tax burdens.