Barclays Corporation Tax Barclays Corporation Tax
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  1. #1

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    Default Barclays Corporation Tax

    For 2009 on Profits of £4.85bn

    Any guesses? (no peeking at the news sites)







































    £113m, or 2.4% of profits. And they accuse contractors of dodging tax.

  2. #2

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    Are segments of Barclays not operating through Holland these days?

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    Quote Originally Posted by minestrone View Post
    Are segments of Barclays not operating through Holland these days?
    Should it not be 'Barclies' or do I not know nothing about grammar?

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    Are you getting mixed up with the Barclays brothers, sorry I'm too lazy to google

    LMGTFY yada yada
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  5. #5

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    Tax protesters target Barclays bank
    It's legal but immoral.
    Yep, there's gold being mined in that widening gap that exists between illegal and immoral.

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    There's some serious exaggeration occurring on both sides of this argument.

    UK Uncut (and others) seem to imply that any corporation that pays even a penny less than 28% are basically thieves.

    Yet no multi-national organisation will ever pay 28% in UK corporation tax - even if they comply with the letter and 'spirit' of the rules.

    This is because overseas earnings are first taxed in the country of origin - and only then taxed in the UK on the difference between 28% - if there is any. This isn't even tax avoidance - it's just how international tax works - and has worked for yonks. The company still pays 28% tax - just not all of it as UK corporation tax.

    For a large company with major overseas operations, this can significantly distort the apparent percentage paid, even if they pay every penny due - although even with this, the amount paid by Barclays does seem low.





    Now on the other side, Barclays are being very crafty about their definition of what they have paid in tax. One of their statements said something like "We made 6bn profit and paid 2bn in tax" - seems about right. But apparently some of this is income tax paid by their employees.

    Next they'll start claiming that the decorators they use for their branch makeovers will pay tax, so they'll include that in their tax figure as well.
    Last edited by centurian; 19th February 2011 at 15:18.

  7. #7

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    2.4% in total, or 2.4% in the UK?

    Besides if a company pays lesss tax, it has more profit to give out in bonuses, increasing personal wealth and infuriating immigrant squirrel-fanciers.
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    Quote Originally Posted by centurian View Post
    The company still pays 28% tax - just not all of it as UK corporation tax.
    If that was the case their defense would be very easy and they'd just say - we paid 27% in country XYZ.

  9. #9

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    Good on them!

    If they had acted like any honest citizen and paid a billion in taxes all that would have been wasted by the government in vote mining projects or frittered it away on benefits etc.

  10. #10

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    The blunt argument is that they have paid what has been expected of them to pay.

    If I go into a shop and ask for a can of coke and the shop keeper asks for 60 pence should I have to pay 80 pence if someone shouts from the back of the shop 60 pence is too cheap?

    The tax rules are there, we all know that, to say that they are somehow cheating the system is total piffle.

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