barclays will ge coming out with trading update on 07.05.2009 It is expected to report profits higher than market expectations.

A good Buy Medium to Long term

The Treasury has closed two "highly abusive" tax loopholes after a leading bank - believed to be Barclays - tried to avoid paying more than £500 million.

The move is the first time the current Government has clawed back taxes which have been avoided in the past and will ensure billions of pounds of tax are paid in the future.

Although the Treasury has not named the bank, the schemes have been widely linked to Barclays, which will cause the bank embarrassment because it has signed up to a code of practice against tax avoidance and has stressed the importance of good citizenship.

Barclays flagged up the schemes to HMRC but the Government decided they were not suitable for a company that had signed up to the code of practice.

It has been reported that Barclays does not agree with the Treasury's estimate of a £500 million loss, saying the real figure is less than £200 million.

One of the tax schemes involved a bank avoiding corporation tax on profits it made buying back its own IOU-notes. The Treasury said it will move to block the recent use of the scheme by the bank and by any other company.

The other scheme - understood to be devised by the same bank - in

The Treasury accused the unnamed lender – understood by the Daily Mail to be Barclays – of using two 'highly abusive' and 'aggressive' avoidance schemes to hide the money from the taxman. The government has now outlawed both loopholes in a move that is expected to save it a further £2billion in tax that would otherwise have gone unpaid.
Comments (2) Share

surprised the sp is holding up so well, thought there might be a dip.,.

this gov has created more non jobs than the labour councils they should both be put
on the front pages of ever daily paper . this gov which i voted for told a pack of lies to get into power. the conservative party is now a party SO DISHONEST it is a disgrace to office. cameron should resign in disgrace bbut he as no moral he is a liar
the NHSafe in is hands is hands now as blood all over them

Tanker,
I think internet provided the opportunity for people to share their knowledge which in longer term prevent the governments to ignore their promises.

I think the issue with SUN, telephone scandle, etc give a good lesson to anyone who misuse its power and trade livelihood of people to gain...

ahoj . do you no why there is which hunt on the press.
it is for one reson only . because of the MPs expensive scandal.
the knife is sharper than the pen

the directors of this bank are filling there pockets and could not give a shite for holders they treat them with distain

A bit like most of them then.

stan the are just thiefs and these so called fund managers like those at STANDARD LIFE ARE CRAP any one who has a fund with them are being ripped off

barclays the bank run for BANKERS and not holders DIAMOND is taking the piss out of holders

reading about HBOS and lloys and RBS why has no one been charged and jailed
they cheated and told lies hiding the debts . if this had been a normal working person
they would be dragged through the courts . who says crime does not pay it pays better than being honest

They mis-use Human Right to do crime. They are assumed to be human who made mistakes, so should not be punished. If an honest person makes a mistake, it is considered as crime because they are honest and tell the whole truth.

They should not be paid bonuses, if they make any mistake. That's the minimum we should expect from the rules.

ahoj , s hester is no better than fred

have started yesterday to buy back into these TARGET 300p by sept

.

harry buy buy buy

Harrycat whats your analysis of chart?

has the look of a camel.,.

this camel is going to run and as loads of cash