BusinessCompany NewsFresh claims over Barclays tax

Fresh claims over Barclays tax

Alleged tax avoidance schemes so highly orchestrated HMRC is struggling to comprehend them

The alleged Barclays tax avoidance schemes entered into to make a profit
involved companies with headquarters in the Cayman Islands and Luxembourg, and
are said to be so complex HM Revenue and Customs is having difficulty
deciphering them.

Earlier this week, a court injunction forced the Guardian to remove
internal bank documents from its website, according to
guardian.co.uk

Vince Cable, the Liberal Democrat treasury spokesman, said public disclosure
of the documents is in the interest of taxpayers.

‘This is a sad day for democracy. British taxpayers are being asked to
underwrite Barclays’ loans… banks use the finest legal brains money can buy to
avoid tax, but HM Revenue & Customs is underpaid and overstretched, so it is
far from a level playing field,’ he said.

Further Reading:

HMRC
launches Barclays tax probe

Barclays
in talks with Treasury about Asset Protection Scheme

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