UK Tax Office Chief: Cleared to Share Leaked HSBC Swiss Data with Authorities

By Max Colchester

LONDON--The head of the U.K. tax collection office said Wednesday that the body has clearance to share a cache of leaked documents on HSBC Holdings PLC's (HSBC) Swiss account holders with other U.K. law-enforcement authorities.

Lin Homer, the chief executive of HM Revenue & Customs, said it had reached a deal in the past few days with French authorities to pass on the data "to pursue wider offenses."

In 2010, HMRC received data stolen from HSBC's Swiss subsidiary from French authorities. It has since recouped 135 million pounds ($208 million) in taxes and fines, but it has been criticized by lawmakers, as only one person has been prosecuted.

HMRC executives said a deal struck with French authorities back when it received the data stopped it from handing the information to other U.K. law-enforcement agencies. The new deal with the French will allow U.K. authorities to investigate wider offenses, such as money laundering.

Ms. Homer said a meeting is planned for next week with several other U.K. agencies to see how best to share the data.

Write to Max Colchester at [e-mail]

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