Doug Barrowman

Douglas Alan Barrowman (born March 1965)[1] is a Scottish businessman and entrepreneur.[2] He founded the Knox Group of Companies and has invested in Ve Interactive, Aston Ventures, and Equi Capital.[3][4][5], and was also a director of Aston Management Ltd (AML), part of Knox, which promoted tax schemes to unwitting freelance workers including social workers, locum doctors, nurses and engineers; the UK tax authority Her Majesty's Revenue and Customs (HMRC) argued AML's schemes allowed tax avoidance, and in 2017 the UK Parliament gave HMRC power to claw back claimed unpaid tax via the Loan Charge measure, leading to six-figure tax demands, consequent to which seven people committed suicide, reportedly. Barrowman was criticised in Parliament's House of Commons for his role.[6][7][8][9][10][11] He is married to businesswoman Baroness Michelle Mone.[12]

Doug Barrowman
Born
Douglas Alan Barrowman

(1965-03-01) 1 March 1965
Glasgow
NationalityScottish
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

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.[13]

Career

Early career

After graduating, Barrowman completed his professional examinations and qualified as a Chartered Accountant.[14] 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.[15] Barrowman resigned from 3i in 1992, to set up his own corporate finance practice during the 1990s.[16] He exited from the practice in 1999.[14]

Aston Ventures

In 1999, Barrowman founded Aston Ventures, a private investment vehicle.[17] 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.[17][18]

The Knox Group

In 2008, Barrowman moved to the Isle of Man and founded The Knox Group of Companies which owned several businesses, including Aston Ventures.[19] The Group is engaged in private equity, property, wealth planning and fiduciary services, which has funds under management and administration of £3 billion.[19]

Barrowman was a director of Aston Management Ltd (AML), which provided tax advice and offshore loan schemes to freelance workers including social workers, locum doctors, nurses and engineers.[20] AML's services came under scrutiny after the UK government announced in 2017 that it would be claiming back tax from 50,000 scheme users through the Loan Charge measure, leading to criticism in Parliament's House of Commons.[21][22][23][24][25] AML ceased trading in 2010 before the tax rules changed.[22] In October 2020, a BBC report highlighted how thousands of AML customers were left facing a retrospective Loan Charge by HMRC.[26]

In 2011 Barrowman co-founded the KHG Private Equity Fund.[27]

Other business activities

In 2017, Barrowman became the interim Chairman of Ve Interactive, after an emergency cash injection and investment into the firm.[28] In the same year, Aston Plaza and Residences, a residential and commercial property development in Dubai priced in bitcoin, was launched.[29]

Also in 2017 Barrowman was a director of WeShop Limited. [30]

In 2018, Barrowman launched Equi Capital Partners with his partner Michelle Mone, with backing from Steve Wozniak.[31]

Philanthropy

Barrowman is also the founder of The Barrowman Foundation, a charitable organisation.[32]

The Prince's Trust Doug Barrowman Centre in the Ancoats area of Manchester opened in 2019 following a donation by Barrowman of £2 million to the Prince's Trust.[33] The purpose of the centre is to help young people into education, training and jobs.[34]

Personal life

Barrowman has six homes, an automobile collection with fifteen cars, and a private jet.[35] He was featured on a 2015 episode of the television series Million Pound Mega Yacht,[36][37][38] 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 lent pieces from his art collection to institutions such as the Manx Museum.[39] 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.[40]

On 26 December 2018, Michelle Mone confirmed her engagement to Doug Barrowman.[41] 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.

References
  1. "Douglas Alan BARROWMAN - Personal Appointments (free information from Companies House)". find-and-update.company-information.service.gov.uk. Retrieved 4 January 2021.
  2. "People". Knox Private Office. Retrieved 4 January 2021.
  3. insider.co.uk (7 January 2019). "Former 'tech unicorn' makes its first acquisition following turnaround". businessInsider. Retrieved 4 January 2021.
  4. "About Doug Barrowman". The Barrowman Foundation. Retrieved 4 January 2021.
  5. "Register to read | Financial Times". www.ft.com. Retrieved 4 January 2021.
  6. "Michelle Mone marriage plans with Glasgow billionaire trigger outrage among tax avoidance campaigners". The Daily Record. 15 December 2019. Retrieved 8 September 2020.
  7. "Nurses are next on taxman's hitlist". The Times. 5 May 2018. Retrieved 1 August 2020.
  8. "Michelle Mone's partner marketed 'repugnant' tax schemes". The Herald. 2 February 2017. Retrieved 1 August 2020.
  9. "Tories' "draconian" tax avoidance clampdown linked to 7 suicides 'caused serious distress'". Daily Mirror. 21 December 2019. Retrieved 30 July 2020.
  10. "Loan schemes offering help to ruined clients — for a fee". The Times. 24 February 2019. Retrieved 30 July 2020.
  11. "Hansard: Loan Charge, 01 October 2019".
  12. Dalziel, Magdalene (30 November 2020). "Michelle Mone shares more images from stunning wedding after cancelling twice". Daily Record. Retrieved 4 January 2021.
  13. "A tale of two towers". Manchester Evening News. 15 February 2007. Retrieved 7 February 2017.
  14. "About Doug Barrowman". The Barrowman Foundation. Retrieved 23 September 2020.
  15. Ungoed-Thomas, Jon. "Barrowman investment firm rapped by watchdog". ISSN 0140-0460. Retrieved 28 July 2020.
  16. "A tale of two Dougies". Enforbusiness. Retrieved 7 February 2017.
  17. "People". Knox Private Office. Retrieved 23 September 2020.
  18. Ungoed-Thomas, Jon. "Prince's Trust honours artful tax dodge boss Doug Barrowman". ISSN 0140-0460. Retrieved 23 September 2020.
  19. "The Knox Group of Companies". Knox Group PLC. Retrieved 23 September 2020.
  20. "Michelle Mone marriage plans with Glasgow billionaire trigger outrage among tax avoidance campaigners". Daily Record. 15 December 2019. Retrieved 8 September 2020.
  21. "Nurses are next on taxman's hitlist". The Times. 5 May 2018. Retrieved 1 August 2020.
  22. "Michelle Mone's partner marketed 'repugnant' tax schemes". The Herald. 2 February 2017. Retrieved 1 August 2020.
  23. "Tories' "draconian" tax avoidance clampdown linked to 7 suicides 'caused serious distress'". Mirror. 21 December 2019. Retrieved 30 July 2020.
  24. "Loan schemes offering help to ruined clients — for a fee". The Times. 24 February 2019. Retrieved 30 July 2020.
  25. "Hansard: Loan Charge, 01 October 2019".
  26. "File on 4 - Taxing Situations - BBC Sounds". www.bbc.co.uk. Retrieved 22 October 2020.
  27. "Aston Ventures' new vehicle ready to invest". The Business Desk. 10 March 2011.
  28. "Tech unicorn Ve Interactive's valuation slashed to £300m". The Telegraph.
  29. Chavez-Dreyfuss, Gertrude (6 September 2017). "Isle of Man firm to launch 250 million-pound Dubai property priced in bitcoin". Reuters. Retrieved 12 September 2020.
  30. "WeShop Limited - People (free information from Companies House)". beta.companieshouse.gov.uk. Retrieved 7 October 2020.
  31. Field, Matthew (16 March 2020). "Former unicorn VE Global falls to £16.5m loss". The Telegraph. ISSN 0307-1235. Retrieved 12 September 2020.
  32. "About Doug Barrowman".
  33. "Prince's Trust opens new Centre in the heart of Manchester | News and views | About The Trust | The Prince's Trust". www.princes-trust.org.uk. Retrieved 23 September 2020.
  34. Ungoed-Thomas, Jon. "Prince's Trust honours artful tax dodge boss Doug Barrowman". ISSN 0140-0460. Retrieved 10 September 2020.
  35. "Michelle Mone reveals amazing birthday treat she has in store for new boyfriend". The Evening Times.
  36. "The weekend's TV highlights". The National.
  37. "Highlights: Mega-Yachts". ABLE.
  38. Noted. "On TV: March 26, 2016 – The Listener". Noted.
  39. isleofman.com. "Knox-inspired dress now on display at Manx Museum - Isle of Man News :: isleofman.com".
  40. "The V&A explores the meaning of Luxury-Telegraph".
  41. "Ultimo founder Michelle Mone announces engagement to billionaire beau Doug Barrowman". independent. Retrieved 27 July 2020.
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