New rules leave Barclays with £500m tax bill
Posted by mostafa on 29 February, 2012
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This item was filled under Tax
Barclays will have to have to pay an estimated £500 million to HMRC, following the government's decison to shut down two corporate avoidance schemes.
The aim of the first was to ensure commercial profit arising from a buyback by the high street bank of its own debt was not subject to tax.