Barclays: If only they had had a (tax) map

Feb 28, 2012 | Blogs

Good news!  Students of great communications disasters can shift their attention away from Mr Lansley and NHS reform.

They can study Barclays and tax instead.

The Times tells us that the Government is getting Barclays bang-to-rights. “When a scheme is so aggressive and offensive it is the right thing to do’ an official said” (Ouch!).

Matthew Oakeshott, the former LibDem Treasury spokesman, piles in: “Barclays’ tax avoidance factory at Canary Wharf has a long record of aggressive use of tax havens. If Bob Diamond won’t come clean, his claim to be a responsible citizen is a sham.” (Yellow card for you, Matthew, for kicking the bruise).

Barclays response?

As I write no press release, but Barclays has told the BBC that it is surprised by HMRC’s reaction to the two schemes, which: “…it believed to be in line with those used by other banks.” Or in the language of the playground: “That’s not fair, sir.  Lloyds and Santander done it too.”

Convinced?

Nor am I.

It shows why companies need a tax map. For details see https://corporate-citizenship.com/our-insights/tax-as-a-corporate-responsibility-issue/