With the Barclays’s attempt at robbing the UK tax payer of £1bn with a crazy claim that they’re owed a compounded interest on repayment of VAT that was overpaid by Littlewoods (before the brothers acquired it!) in breach of EU-law, comes the question of where all that money will end up if they win.
It has been speculated that the money will be used to fill out the financial holes in their empire. Although most of their companies are ultimately owned by offshore companies, thereby making it impossible to access their records, there has surfaced reports that some of their companies registered in the UK are under-performing.
Another report suggests that the brothers are trying to sell the jewel in their empire’s crown:
City Spy in the Evening Standard reported that there were rumours of a sale of The Ritz “in strict secrecy”… The price is apparently arond £625 million – less than what they want from the HMRC. .