British banks have turned against the Obama tax plans

British banks and brokers may refuse to service American customers will be taken if the tax proposals presented by U.S. President Barack Obama, the Sunday Telegraph.

The decision, which the Americans in London would be difficult to open bank accounts and trade shares, the leaders discussed British banks and brokerage firms, which indicate that Americans care may become too costly. The proposals contained in the first budget message, Obama, aimed at combating the evasion of U.S. taxes overseas. However, British banks argue that they want to force to collect taxes on Americans, thus impractical and expensive litigation.

Andy Thompson of the Association of Investment Managers and brokers serving individual clients (Association of Private Client Investment Managers and Stockbrokers - APCIMS) said: "The cost and administrative rules of the tax regime for the U.S. forced the British investment companies to reflect the withdrawal of the investment of its customers in U.S. equities. This is wrong and shows that the international tax regime that hurts the U.S. economy itself, which he tries to protect. "