Once a tax-dodger, always a tax-dodger

That the Barclay brothers tax status is questionable is nothing new. Evening Standard reported in 2004:

Examination of the Barclays’ companies, all of which are privately held, suggests their wealth may be partly attributed to their success at minimising tax liabilities. For instance, Holyrood Holdings, parent company of The Scotsman newspapers, made £4 million pre-tax profit in the year ended December 31, 2002, but paid just £17,000 in tax.

Another company, January Investments, controls former retail group Sears, now a property management firm. It made £8.6m profit, paid £16m dividends, but paid no tax in the year ended January 31, 2003.

That’s an impressive tax rate of 0-0.017%.


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