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HMRC 'failing to check tax reliefs'

The UK's tax authority has been accused by MPs of failing to properly monitor the system of tax reliefs.

A review of HM Revenue and Customs' approach to tax evasion and avoidance will report by July if Labour comes to power, Ed Miliband says.

HMRC has had access to files detailing HSBC's Swiss bank accounts for years and only one prosecution has been made

The Public Accounts Committee has criticised HM Revenue & Customs for its "unacceptably slow" action against tax avoiders.

Cigarette maker British American Tobacco (BAT) has been fined 650,000 ($1m; 820k) by UK tax authorities for oversupplying its products to Belgium.

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