U.K. Tax Authority to Drop Barclays in Favor of Lloyds, the FT Says, Citing Sources

Dow Jones
03-03
 

--The U.K.'s Revenue & Customs, or HMRC, is to include Lloyds Banking Group in its list of lenders providing banking services to government organizations, and drop Barclays, the Financial Times reported, citing sources.

--The tax authority is set to hand a new contract, with an estimated value of 99 million pounds ($124.5 million), to Lloyds later in the month, joining existing providers NatWest and Citigroup, the FT reported, citing three people familiar with the matter.

--Barclays will continue to provide merchant-acquiring services to HMRC, according to the report.

 

Full story: https://tinyurl.com/5cy6x73y

 

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

 

(END) Dow Jones Newswires

March 03, 2025 03:09 ET (08:09 GMT)

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