Barclays targeted by tax protesters

2011-02-19 85


A protest group has vowed to continue its protests against banks after targeting branches of Barclays.


Supporters of UK Uncut staged a series of small demonstrations outside branches in central London and in other locations around the country.


Barclays came under fire after revealing its corporation tax bill stood at £113 million in 2009 - a fraction of its multibillion-pound profits.


The bank said in its additional submission to the committee that the corporation tax bill was lower due to "UK losses brought forward principally arising from credit write downs".


A Barclays spokeswoman said: "Barclays takes its responsibilities as a corporate citizen very seriously. We comply with taxation laws in the UK and in all the countries where we do business - both in the spirit and the letter."


Further action by UK Uncut is planned against the Royal Bank of Scotland on February 26, protesters added.


A spokesman said: "We are tired of companies ripping off the public and using economies of scale and clever accounting laws to get away with not paying taxes.


"We are tired of us paying into the public sector and seeing our public sector decimated, while corporations are effectively getting away with theft. It's legal but immoral."