The Treasury has failed to rule out fears of a windfall tax on banks designed
to punish those indulging in excessive bonus payouts against the spirit of the
A spokesman said talk of some form of additional tax, or a top up to
corporation tax akin to the North Sea levy was “speculation”, but conceded
options for action against rogue banks have been considered.
Shadow chancellor George Osborne said at the Tory Party Conference he had not
ruled out some form of tax action if banks fail to adhere to bonus guidelines.
The threat follows cross-party exasperation at the behavior of bankers, many
of whom a year ago were queuing up to be rescued.
The only concrete proposal has came from City minister Lord Myners who said
on BBC TV the government would use its votes in the RBS and Lloyds Group to
oppose excessive packages.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group