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.
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.