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HSBC issues public apology over claims it helped clients evade taxes

HSBC has issued a full-page apology in several newspapers over claims its Swiss private banking branch helped clients evade taxes.

In a letter addressed to customers and staff, chief executive Stuart Gulliver said the revelations over the past week had been a "painful experience".

The fallout from the revelations sparked a political row between the Conservatives and Labour.

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HMRC looked into 3,600 Brits who had Swiss accounts

The details of 3,600 British residents with Swiss accounts were looked into by HMRC as part of the investigation into the HSBC tax avoidance scandal but only three files were passed on to the CPS, it emerged today.

The revelation came as the head of HMRC faced a grilling from MPs over why tax inspectors haven't investigated more people on the list of HSBC Swiss bank account holders.

ITV News Business Editor Joel Hills reports on the latest developments:

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