Where will the tax billion end up?

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. .

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2 comments

  1. roger norwich · · Reply

    At last there is to be some exposure of the activities of the Barclay Brothers both in their international activities and closer to home in Sark where their agent and lawyers have led campaigns for a number of years to denigrate the names of many residents and to take control of the Island and its institutions.
    The exact reasons for the attempt are somewhat unclear but almost certainly relate to control of the tax regime and to prevent any possibility of Sark going into fiscal union with neighbouring Guernsey.
    The irony of the situation is that the appaling behaviour of the Barclays and their servants Donnelly their estate manager and their lawyer Dawes together with the Brothers constant legal challenges against the Sark authorities have made such a union more likely as they have sapped the finances and the energy of the unpaid but properly elected members of Sarks ‘Chief Pleas’ parliament.
    Sensing likely failure of their designs in Sark the Barclays have now embarked on a visually and envirnmentally damaging ‘ scorched earth’ policy by digging up a huge percentage of the islands pastures and planting massive vineyards which are totally doomed to failure and which will never produce anything other than the resentment of the population which is the blood on which they feed.
    What is so difficult for Sark residents to understand is how and why UK politicians will not move to stop their abuse of the island and its population and it is presumed by most that they hold some leverage over the UK political establishment.
    Perhaps it is time for the politicians to wake up to the fact that if left unshackled the Barclay Brothers could create a new Anguilla right on the UK’s doorstep. Rumours of Barclay Brother connections with dubious international organisations abound and it is to be hoped that Panorama will begin to shed some light on this and the shameless activities of their agents on Sark.

  2. Lulla Corde · · Reply

    What can we do to force the government make the Barclay brothers and alike pay their fair part of tax to UK?

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