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Harry Potter and the riddle of RBS's disappearing tax bill

From 2003-2006, UK bank avoided or delayed paying about £1b in taxes using "sale-and-leaseback" deals

Published Tue, Feb 16, 2016 · 09:50 PM
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London

IT'S the kind of magic worthy of a graduate of Hogwarts School of Witchcraft and Wizardry: Royal Bank of Scotland Group Plc (RBS) conjured up at least £1 billion (S$2 billion) in tax breaks by investing in controversial financing deals for Harry Potter films and a host of other blockbuster titles that involved no risk to the bank.

The transactions, which RBS…

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