{"id":31172,"date":"2012-09-10T07:17:54","date_gmt":"2012-09-10T11:17:54","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=31172"},"modified":"2012-09-10T07:17:54","modified_gmt":"2012-09-10T11:17:54","slug":"uk-parliament-renews-pressure-on-barclays-tax-avoidance","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2012\/uk-parliament-renews-pressure-on-barclays-tax-avoidance.html","title":{"rendered":"UK parliament renews pressure on Barclays tax avoidance"},"content":{"rendered":"<p>Risk.net &#8211; The UK parliament&#8217;s Treasury Select Committee has renewed its pressure on Barclays by\u00a0<a href=\"http:\/\/www.parliament.uk\/business\/committees\/committees-a-z\/commons-select\/treasury-committee\/news\/treasury-committee-publishes-letter-from-the-chancellor-on-retrospective-tax-action-against-barclays\/\" target=\"_blank\">releasing letters describing a failed tax avoidance scheme<\/a>\u00a0in 2011. Committee chairman Andrew Tyrie noted that much of Barclays&#8217; explanation to the committee for the scheme \u2013 ruled illegal by HM Revenue &amp; Customs in February this year \u2013 did not agree with the facts, as explained by UK chancellor George Osborne in another letter to the committee.<\/p>\n<p>Barclays launched a debt buyback scheme in December 2011 which netted it \u00a31.1 billion \u2013 but its attempts to avoid payment of corporation tax on the profit were ruled retrospectively illegal earlier this year. The UK Treasury described the scheme as\u00a0&#8220;highly abusive&#8221;. Barclays paid \u00a3300 million in tax, for which it had already made provision in its 2011 results.<\/p>\n<p><a href=\"http:\/\/www.risk.net\/operational-risk-and-regulation\/news\/2203545\/uk-parliament-renews-pressure-on-barclays-tax-avoidance\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Risk.net &#8211; The UK parliament&#8217;s Treasury Select Committee has renewed its pressure on Barclays by\u00a0releasing letters describing a failed tax avoidance scheme\u00a0in 2011. Committee chairman Andrew Tyrie noted that much of Barclays&#8217; explanation to the committee for the scheme \u2013 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31172","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/31172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=31172"}],"version-history":[{"count":2,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/31172\/revisions"}],"predecessor-version":[{"id":31174,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/31172\/revisions\/31174"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=31172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=31172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=31172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}