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British tax officials are investigating allegations that wealthy clients of Lloyds Banking Group are being encouraged to avoid UK taxes by channelling money through China, it has been reported.
The BBC said that an employee at the Jersey branch of the bank was secretly filmed giving the advice to a man.
The man was posing as a client who had £4 million to invest, but who was really taking part in a Panorama TV investigation, due to be screened on Monday night.
Lloyds, which received a £17bn Government bailout last year, denied any wrongdoing and said it would not comment on the actions of an individual employee.
Dave Hartnett, permanent secretary at HM Revenue and Customs (HMRC), told the BBC that the advice was "incredibly irresponsible".
HMRC is said to be investigating the incident after the BBC handed over its footage.
The Panorama investigation into offshore banking also looked into Northern Rock, a bank which was bailed out with £27 billion of taxpayers' money at the start of the banking crisis in 2008.
A banker from Northern Rock in Guernsey told Panorama's undercover customer that he could avoid the EU tax rules by opening an account in the name of a non-trading company.
The banker said the customer should inform the Inland Revenue but the BBC claimed the bank itself keeps the details secret from the taxman.
Northern Rock denied its subsidiary is behaving inappropriately and said it informs and reminds all account holders that they are responsible for declaring the interest earned from their savings to their relevant tax authority
The BBC said that an employee at the Jersey branch of the bank was secretly filmed giving the advice to a man.
The man was posing as a client who had £4 million to invest, but who was really taking part in a Panorama TV investigation, due to be screened on Monday night.
Lloyds, which received a £17bn Government bailout last year, denied any wrongdoing and said it would not comment on the actions of an individual employee.
Dave Hartnett, permanent secretary at HM Revenue and Customs (HMRC), told the BBC that the advice was "incredibly irresponsible".
HMRC is said to be investigating the incident after the BBC handed over its footage.
The Panorama investigation into offshore banking also looked into Northern Rock, a bank which was bailed out with £27 billion of taxpayers' money at the start of the banking crisis in 2008.
A banker from Northern Rock in Guernsey told Panorama's undercover customer that he could avoid the EU tax rules by opening an account in the name of a non-trading company.
The banker said the customer should inform the Inland Revenue but the BBC claimed the bank itself keeps the details secret from the taxman.
Northern Rock denied its subsidiary is behaving inappropriately and said it informs and reminds all account holders that they are responsible for declaring the interest earned from their savings to their relevant tax authority
