Sunday, 28 April 2013

Putting on the Ritz.

The Ritz also known as the nursing home of choice for ex prime minister Maggie Thatcher is apparently yet another one of the corporate tax dodgers. However, it seems that the Ritz has been "putting it on" for about the last 17 years. London's high-end Ritz hotel has not paid a single penny in corporation tax in the 17 years since it was taken over by the reclusive Barclay twins.

The BBC's Panorama programme analysed the accounts of the hotel bought by the brothers in 1995. The accounts show that the profitable hotel has used a series of tax reliefs to reduce its corporation tax to zero.

MP Nadine Dorries said: "They're incredibly wealthy men who don't pay British tax. I think it is just utterly appalling." The twins however claim they have had nothing to do with the running of the UK companies. The brothers said that they have not run their UK companies since they retired to Monaco more than 20 years ago. "We have not attended office, management or board meetings in the UK since leaving the country," Sir David Barclay said in a statement. "My brother and I have no editorial, political or economic power in the UK."

So maybe its time they did, and its also time that they ensured that the tax was paid.


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