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15 Mar 2010
Sainsbury's is aiming to buffer the effects of the impending 50% bonus rate by paying its bonuses early.
The supermarket giant is trying out a "new award timetable" to pay its 1,200 senior managers three months earlier than usual, which will see the awards taxed at 40p in the pound instead of 50p for high earners making more than £150,000 from 6 April.
Sainsbury's said it was "fairer to the individual for the proportion of their bonus awards that are based on Sainsbury's financial performance to be paid, and therefore taxed, in accordance with the rates that applied across the financial year in which they were earned," The Independent reported.
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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. 
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