Becky Rees and Liz Morgan, of the Tax Department of Pinsent Masons LLP, take a look at the new bank payroll tax
Becky Rees and Liz Morgan of the Tax Department of Pinsent Masons LLP take a look at the new bank payroll tax
The papers have been full of headlines castigating the bankers for the parlous state of the country's finances. Alistair Darling has responded in the Pre-Budget Report by offering the banks a choice between maintaining their capital on the one hand and paying bonuses to their employees on the other. The sting in the tail is that if the banks pay bonuses over £25 000 the bank itself will suffer a 50% charge; this is the so-called bank payroll tax (BPT).
There has been much commentary in...
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Becky Rees and Liz Morgan, of the Tax Department of Pinsent Masons LLP, take a look at the new bank payroll tax
Becky Rees and Liz Morgan of the Tax Department of Pinsent Masons LLP take a look at the new bank payroll tax
The papers have been full of headlines castigating the bankers for the parlous state of the country's finances. Alistair Darling has responded in the Pre-Budget Report by offering the banks a choice between maintaining their capital on the one hand and paying bonuses to their employees on the other. The sting in the tail is that if the banks pay bonuses over £25 000 the bank itself will suffer a 50% charge; this is the so-called bank payroll tax (BPT).
There has been much commentary in...
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