Barclays. Tax. Chortle.

Oh dear me. The biggest tax arb house on the street is being investigated by the Inland Revenue. The Guardian has the details. But clearly anyone structuring transactions whose main aim is to reduce tax (an international avoidance factory perhaps?) has reputational risk. That risk appears to be biting. If a senior politican says that you look like the spider at the centre of a highly artificial web of non-transparent transactions through tax havens, then you have a problem.