Barclays hit by protests over tax avoidance

Laura Miller
clock

Over 35 Barclays branches were picketed over the weekend as protesters vented anger the financial giant paid just 1% in UK corporation tax in 2009, after making a record £11.6bn profit.

Several branches were closed to the public as protesters staged peaceful sit-ins, impromptu reading groups and creches in dozens of cities and towns across Britain, including Edinburgh, Birmingham, Liverpool and Lewes, the Guardian reports. Barclays has been accused of occupying a "parallel universe" following the disclosure it paid just £113m of corporation tax on its £11.6bn of annual profits; a rate amounting to just 1%. Supporters of UK Uncut, the group which organised the protests, said the plan was not to shut the banks down but to "open them up". Ruth Griffiths, 36, a U...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Feel Good Friday: Fund manager Artemis supports children's charity for 2025

Feel Good Friday: Fund manager Artemis supports children's charity for 2025

Selected as charity of the year by the firm’s charitable foundation

Professional Adviser
clock 10 January 2025 • 1 min read
Popularity of SDR 'Sustainability Focus' grows as two Aegon AM funds adopt label

Popularity of SDR 'Sustainability Focus' grows as two Aegon AM funds adopt label

By end of March 2025

Cristian Angeloni
clock 09 January 2025 • 2 min read
Average DB transfer complainant to receive no compensation

Average DB transfer complainant to receive no compensation

Broadstone’s DB Redress Tracker shows typical redress compensation continues to fall

Jasmine Urquhart
clock 09 January 2025 • 1 min read