Doug Barrowman

Douglas Alan Barrowman is a Scottish businessman and investor who founded and is Chairman of the Knox Group of Companies [1][2] under which the companies Principal Contractors Limited and SmartPay Management promoted tax planning schemes to contractors who subsequently became subject to the controversial Loan Charge, as HMRC came to portray these schemes as avoidance; subsequently Government and HMRC began targeting thousands of contractors who took up such schemes, and held those contractors liable for large tax bills - consequently seven contractor suicides have been reported, while it appears Barrowman and his group have not been pursued.[3][4][5][6][7][8]

Doug Barrowman
Born
Douglas Alan Barrowman

(1965-03-01) 1 March 1965
Glasgow
NationalityBritish
EducationBachelor of Accountancy
Alma materGlasgow University
OccupationBusinessperson and investor
Known forFounding Aston Ventures and The Knox Group of Companies
Partner(s)Michelle Mone

Early life

Douglas "Doug" Barrowman was born on 1 March 1965 in Glasgow, Scotland. He was raised in Simshill, before moving to Rutherglen at the age of 13, where Barrowman attended Kings Park Secondary School. He later attended Glasgow University, graduating with a Bachelor of Accountancy degree in 1985.[9] Barrowman was the first person from his family to attend university.

Career

After graduating, Barrowman completed his professional examinations and qualified as a Chartered Accountant. At the age of twenty he set up paintball sites in Scotland as his first business. He then spent three years at 3i, a private equity fund.[10] Barrowman resigned from 3i in 1992, to set up his own corporate finance practice during the 1990s.[11] He exited from this practice in 1999, to concentrate on his private investment vehicle Aston Ventures, which he founded in the late 1990s.[11]

Over the next ten years, Aston Ventures made 13 acquisitions of "old economy" businesses, including the third largest cable making company in the world B3 Cables, with a total turnover of about £400 million over that period. In 2008 Barrowman moved to the Isle of Man and founded The Knox Group of Companies which owned several businesses as well as Barrowman's interest in Aston Ventures. The Group is engaged in private equity, property and wealth management,[2][11][12] which has funds under management and administration of £1.5 billion.[13] The Knox Group provided offshore loans that attracted attention in the UK media and Parliament after new rules concerning disguised remuneration were introduced.[14][15][16][17] In 2011 Barrowman co-founded the KHG Private Equity Fund.[18]In 2017 he became the interim Chairman of Ve Interactive, after an emergency cash injection and investment into the firm.[19]

Personal life

Barroman has six homes, an automobile collection with fifteen cars, and a private jet.[20] He was featured on a 2015 episode of the television series Million Pound Mega Yacht,[21][22][23] featuring his 55 metre yacht named Turquoise. He is an art collector, with pieces by Picasso, Salvador Dali, and Marc Chagall. Barrowman has four children, two from each of his prior marriages. Barrowman is also the founder of The Barrowman Foundation, a charitable organisation.[24] Barrowman lent pieces from his art collection to institutions such as the Manx Museum.[25] Barrowman has also lent pieces to London Galleries, such as his George Daniels Space Traveller Watch, which was featured at the V&A for the exhibition What is Luxury.[26]

On 26 December 2018, Michelle Mone confirmed her engagement to Doug Barrowman.[27] Michelle has three children from her former marriage to Michael Mone whom she divorced in 2011, Rebecca, Declan and Bethany, and Doug has four children from two separate marriages.

gollark: Why does it keep *doing* that?
gollark: <@!683735247489466397> play https://radio-ic.osmarks.net/128k.ogg
gollark: <@!683735247489466397> play https://radio-ic.osmarks.net/128k.ogg
gollark: <@!683735247489466397> support
gollark: <@!683735247489466397> play https://radio-ic.osmarks.net/128k.ogg

References
  1. "We could do with 120,000 people". Isle of Man Today. Archived from the original on 7 September 2016. Retrieved 7 February 2017.
  2. "View from the top". The Independent. 10 March 2004. Retrieved 7 February 2017.
  3. "Principal Contractors Working together, Working for you". Retrieved 30 July 2020.
  4. "Nurses are next on taxman's hitlist". The Times. 5 May 2018. Retrieved 1 August 2020.
  5. "Michelle Mone's partner marketed 'repugnant' tax schemes". The Herald. 2 February 2017. Retrieved 1 August 2020.
  6. "Tories' "draconian" tax avoidance clampdown linked to 7 suicides 'caused serious distress'". Mirror. 21 December 2019. Retrieved 30 July 2020.
  7. "Loan schemes offering help to ruined clients — for a fee". The Times. 24 February 2019. Retrieved 30 July 2020.
  8. "Hansard: Loan Charge, 01 October 2019".
  9. "A tale of two towers". Manchester Evening News. 15 February 2007. Retrieved 7 February 2017.
  10. Ungoed-Thomas, Jon. "Barrowman investment firm rapped by watchdog". ISSN 0140-0460. Retrieved 28 July 2020.
  11. "A tale of two Dougies". Enforbusiness. Retrieved 7 February 2017.
  12. Ltd, Insider Media. "Barrowman builds new venture".
  13. "Knox Group of companies". Knoxgroupplc.com. Retrieved 7 February 2017.
  14. Ungoed-Thomas, Jon. "Loan schemes offering help to ruined clients — for a fee". ISSN 0140-0460. Retrieved 28 July 2020.
  15. "Loan Charge - Hansard". hansard.parliament.uk. Retrieved 28 July 2020.
  16. "Disguised remuneration: guidance following the outcome of the independent loan charge review". GOV.UK. Retrieved 28 July 2020.
  17. "Michelle Mone's partner marketed 'repugnant' tax schemes". HeraldScotland. Retrieved 28 July 2020.
  18. "Aston Ventures' new vehicle ready to invest". The Business Desk. 10 March 2011.
  19. "Tech unicorn Ve Interactive's valuation slashed to £300m". The Telegraph.
  20. "Michelle Mone reveals amazing birthday treat she has in store for new boyfriend". The Evening Times.
  21. "The weekend's TV highlights". The National.
  22. "Highlights: Mega-Yachts". ABLE.
  23. Noted. "On TV: March 26, 2016 – The Listener". Noted.
  24. "About Doug Barrowman".
  25. isleofman.com. "Knox-inspired dress now on display at Manx Museum - Isle of Man News :: isleofman.com".
  26. "The V&A explores the meaning of Luxury-Telegraph".
  27. "Ultimo founder Michelle Mone announces engagement to billionaire beau Doug Barrowman". independent. Retrieved 27 July 2020.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.