# BARCLAYS

# Barclays Tax Principles

We believe that tax planning, for clients and on our own account, must...

*   Support genuine commercial activity
*   Comply with generally accepted custom and practice, in addition to the law and the UK Code of Practice on Taxation for Banks
*   Be of a type that the tax authorities would expect
*   Only take place with customers and clients sophisticated enough to assess its risks
*   Be consistent with, and seen to be consistent with, our purpose and values.

Should any of these principles be threatened, we will not proceed – regardless of the commercial implications.

# Code of Conduct

We seek to ensure that...

*   All tax planning is subject to a robust review and approval process
*   Our approach to taxation is clearly explained and publically available, and our tax reporting is transparent and helpful to stakeholders
*   Our dealings with tax authorities are handled proactively, constructively and transparently, recognising that early resolution of risks is in everyone's interest, and we respond to feedback from tax authorities
*   Any litigation necessary to resolve a difference of opinion will be handled in a way that is consistent with our values.