Barclays reveals only £113m paid in UK corporation tax

[Hen]

http://www.bbc.co.uk/news/business-12511912

"Only £113m in corporation tax was paid whilst the bonus pool amounted to £3.4bn"

I should think the punishment will be a slap on the wrist, not a prison sentence.

I'm sorry for posting such an empty and obvious article.

[Bitter Ashes]

At 28% corporation tax (which is about the same as the LOWEST rate of income tax and NI that minimum wage workers pay) works out at only £491 million of thier profit that they paid tax on. Compare that to the actual 2009 profit figures of £11,6billion (£11,600million) and you can see something's horribly horribly wrong. The actualy tax bill should be closer to £3.2billion (£3,248million) which means that they've dodged £3,135million of corporation tax. I'm sure you can think of many many cuts that could be avoided by clawing back the tax on this one bank alone.

Explanation of UK corporation tax
http://www.hmrc.gov.uk/rates/corp.htm

Barclays declaration of 2009 profits and bonuses
http://www.ft.com/cms/s/0/0a6e2c68-1aca-11df-88fa-00144feab49a.html#axzz1EOWVXUkN

Today is a UK Uncut Day of Action against the banks. The plan's to turn the banks into something useful like homeless shelters, schools, etc that are being attacked by the cuts caused by the banks' tax dodging. Get dressed, phone your friends, get to Barclays and make them pay. Do it today. Do it now. You won't have a better chance of a local propaganda victory than this for a long time.

[Bitter Ashes]

BLAM! Retribution is swift!

http://northern-indymedia.org/articles/1393

[PhoenixAsh]

The police have threatened a journalist with arrest for taking photos until it was pointed out to them that it would be unlawful to do so.


:laugh:

Seems to me some of the funding should go into actualy teaching the police to do the job they are hired for and learn the law they swore to uphold.

[Bitter Ashes]

http://latestnews.virginmedia.com/news/uk/2011/02/19/tax_protesters_target_barclays_bank

Barclays branches in London being liberated

[RebelDog]

I should think the punishment will be a slap on the wrist, not a prison sentence.

As far as I'm aware they haven't broken the law. This is what the Government want anyway. Take a look at this scandal: http://www.guardian.co.uk/commentisfree/2011/feb/07/tax-city-heist-of-century

[Die Neue Zeit]

Playing devil's advocate here, some leftist on another board suggested to me zero corporate tax rates but significantly higher personal income tax rates, especially for higher brackets.