Exclusive: Arrangement has allowed bank to earn billions of pounds nearly tax-free for over 12 years
that allowed it to pay less than 1% on profits in the tax haven for more than a decade., in which it booked profits from the $15.2bn sale of a fund management business in Luxembourg rather than in the UK where it is headquartered.was able to take advantage of a complex scheme whereby it could offset future profits against a drop in the value of company shares it acquired as part of the deal.
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