Shell urged to pay UK investors' tax bill
Former Shell chairman calls for UK investors in Dutch counterpart to be compensated
Former Shell chairman Lord Oxburgh of Liverpool has called on the company to
compensate British shareholders who have been hit with crippling capital gains
tax bills following its restructuring.
The peer has called for Royal Dutch Shell to help out the 3,000 UK
shareholders facing a £377m capital gains tax bill on their total £192m
Lord Oxburgh told the Daily Telegraph that he would feel ‘much
better’ if a way could be found to compensate them for their loss.
The restructuring of Shell Transport and Trading and Royal Dutch Petroleum
into Royal Dutch Shell hit UK shareholders of the Dutch company.
‘The shareholders have to realise that because they were investing in a Dutch
company in such a way that they were totally invisible as far as the Royal Dutch
board is concerned,’ said Lord Oxburgh.