Ritz MD Stephen Boxall hits back over Panorama corporation tax claims

17 December 2012 by
Ritz MD Stephen Boxall hits back over Panorama corporation tax claims

Stephen Boxall, managing director of the Ritz has hit back at claims, expected to be made on a BBC Panorama programme this evening, that the hotel's owners the Barclay Brothers have paid no corporation tax on the business in 17 years.

Boxall said: "In response to claims in the media on Monday 17 December 2012, regarding non-payment of corporation tax, I reiterate a previous statement by our owning company that the Ritz is a reputable and law-abiding business and pays the taxes required by UK law.

"Since the Hotel was acquired in 1995, in excess of £50m has been spent on refurbishment, whilst maintaining the standards of excellence and quality. These costs are lawfully off-settable against trading profits. During the period since 1995, the Ritz has not paid dividends to its shareholders."

Panorama: The Tax Haven Twins will be screened tonight on BBC One at 8.30pm. The BBC's Panorama programme analysed the accounts of the hotel bought by the brothers in 1995.

Barclay brothers have paid no corporation tax on the Ritz for 17 years, reveals BBC's Panorama >>

By Neil Gerrard

E-mail your comments to Neil Gerrard here.

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.catererandhotelkeeper.com/tabletalk

Catererandhotelkeeper.com jobs

Looking for a new job? Find your next job here with Catererandhotelkeeper.com jobs

Blogs on Catererandhotelkeeper.com ](http://www.catererandhotelkeeper.com/blogs) Catch up with more news and gossip on all Caterer's blogs
[E-Newsletters](http://www.catererandhotelkeeper.com/email-newsletters.htm)[ For the latest hospitality news, sign up for our E-newsletters
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking