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06 Jan 2010
The government's 50% tax had failed to curb bonuses but ministers are consoling themselves with the boost to Treasury coffers the pay outs will bring.
An unnamed source is quoted in the Financial Times saying that the government understands employers will pay the tax for those receiving the bonuses.
Treasury insiders, according to the FT, also estimate that the 50% band will bring a boost to HMRC of around £1bn – much needed revenue at the moment.
Unidentified City figures are reported as saying the figure is wide of the mark and the true revenues are likely to be as high as £4bn, or more.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment
Gready bankers
They make me sick. Their irresponsible playing with money started the crisis. I need to be convinced that their particular activity makes any useful contribution to society. Unfortunately we need banking as an institution. Perhaps we should put on our thinking caps to come up with an alternative, then the banks can be allowed to fail. If the state 'owned' banks pay the bonuses then the directors should be sacked -no one is indespensible.
Posted by: Barry Thompson, 07 Jan 2010 | 00:00