BusinessPeople In BusinessCar dealer execs drive off with bonuses

Car dealer execs drive off with bonuses

Six directors at car dealership Lookers have picked up a bonus after the company claimed back £19m in overpaid VAT.

Lookers finance director David Dyson and five of his colleagues have shared out a special bonus totalling £423,000 after the car dealer successfully claimed back £19m in overpaid VAT.

Link: Salary survey, spring 2005

Dyson enjoyed a 45 percent increase to his 2004 pay thanks to the bonus.

The Daily Telegraph reported that Dyson will now earn £298,000 for 2004.

The group’s chairman, Fred Maguire, and its CEO Ken Surgenor, were the biggest beneficiaries, each pocketing a bonus worth £100,000.

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