Unemployment is rising and companies are going to the wall as the economic turmoil continues to inflict damage across the globe. But one organisation is thriving. Records recently filed at Companies House show Tony Blair Inc is going from strength to strength. They reveal that income channelled through a complex network of firms and partnerships controlled by Blair rose more than 40% last year to more than £12m. Of this, almost £10m was paid for "management services". The money was transferred via a network of firms and financial vehicles.
Accountancy experts are questioning the arcane nature of the network's finances, which makes it difficult to trace where its money is coming from, or where it is being spent.
Accounts for Windrush Ventures, an obscure company that operates under the trading name "the Office of Tony Blair", suggest 2011 has been a successful year for the former prime minister. Windrush saw its turnover rise to just over £12m, up from £8.5m in 2010. Pre-tax profits rose from £729,000 to £1.1m.
The accounts reveal that the company received "remuneration of £9,837,000 in connection with management services" from a limited liability partnership ultimately controlled by Blair. In the previous year Windrush Ventures Limited received £5.2m in remuneration for providing management services. Exactly what sort of management services are provided, and how the company derives its income, are impossible to determine as the accounts do not go into detail. Blair is legitimately taking advantage of laws allowing him to limit what his companies and partnerships must disclose. "It is baffling; these accounts make remarkably little sense," said accountancy expert Richard Murphy of Tax Research UK, a firm that scrutinises company finances. "This limited disclosure is not within the spirit of the law. " » | Jamie Doward | Saturday, January 07, 2012
THE SUNDAY TELEGRAPH: Tony Blair and the £8million tax 'mystery': Former Prime Minister Tony Blair channelled millions of pounds through a complicated web of companies and paid just a fraction in tax, The Sunday Telegraph can reveal. ¶ Official accounts show a company set up by Mr Blair to manage his business affairs paid just £315,000 in tax last year on an income of more than £12 million. In that time, he employed 26 staff and paid them total wages of almost £2.3 million. ¶ The accounts provide the strongest evidence yet of the huge sums generated by Mr Blair through his various activities since quitting Downing Street in June 2007. ¶ He runs a business consultancy – Tony Blair Associates – which has deals with the governments of Kuwait and Kazakhstan among others and is a paid adviser to JP Morgan, an American investment bank, and to Zurich International, a global insurance company based in Switzerland. Mr Blair makes a further £100,000 a time from speeches and lectures while also presiding over a number of charities including a faith foundation. » | Robert Mendick, Chief Reporter | Saturday, January 07, 2012
