TaxPersonal TaxPBR 09: Bankers hit with one-off 50% bonus levy

PBR 09: Bankers hit with one-off 50% bonus levy

Darling issues ultimatum to banks: build up capital cushion or suffer hit to any bonus higher than £25,000

Alistair Darling has , but has hit the banking sector with a one-off levy on
any bonus worth more than £25,000 to put £500m back into the UK’s coffers.

He stopped short of hitting the banking sector with a windfall tax, but
issued an ultimatum for them to use profits to build up their capital cushions
or face the heavy tax on bonuses after benefiting from the government’s help.

The banks, not the employees will be responsible for paying.

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