Sainsbury’s is aiming to buffer the effects of the impending 50% bonus rate
by paying its bonuses early.
The supermarket giant is trying out a “new award timetable” to pay its 1,200
senior managers three months earlier than usual, which will see the awards taxed
at 40p in the pound instead of 50p for high earners making more than £150,000
from 6 April.
Sainsbury’s said it was “fairer to the individual for the proportion of their
bonus awards that are based on Sainsbury’s financial performance to be paid, and
therefore taxed, in accordance with the rates that applied across the financial
year in which they were earned,”
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
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
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states