TaxAdministration£6bn tax created from bank bonus

£6bn tax created from bank bonus

Chancellor could receive billions more than expected from the introduction of 50% tax on bonuses

HMRC could receive up to £6bn more than expected from the newly created tax
on banker’s bonuses.

City analysts said the chancellor can expect to see between £5bn and £6bn
more than was previously expected,
The
Mirror
reported.

Alistair Darling had hoped the banker’s bonus tax, announced at last year’s
pre-Budget report, would raise £550m.

Some city experts predict banks will absorb the tax rather than reduce
bonuses.

Bonuses are now subject to a 50% tax if they exceed £25,000.

Further reading:

Deutsche
Bank to share bonus tax pain globally

IT
professionals could be hit with bankers bonus tax

Bonus
tax could rake in £2.5bn

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