Barclays to remain a UK tax resident
Bank will stay headquartered in the UK, even if ABN Amro deal proceeds
Mega-bank Barclays has refuted claims that it will leave the UK if it
completes its proposed merger with ABN Amro.
In a letter to the FT, Barclays media relations head Alistair Smith
that Barclays would be staying in the UK as a tax resident.
‘Barclays would like it noted that if the proposed merger with ABN Amro goes
ahead, then as stated… Barclays, which will be the holding company for the
combined group, will remain UK incorporated, and is expected to remain UK tax
resident.
The response follows claims that Barclays may relocate to the more favourable
tax regime of the Netherlands, where possible merger partner ABN Amro is based.
Further reading:
Overview: ABN takeover battle puts top FDs on
edge
ABN Amro to stick with Dutch
accountants