TaxCorporate TaxBanking exodus fears unfounded

Banking exodus fears unfounded

Bankers staying put as they still make significantly more than their counterparts in other countries

UK bankers are still raking in a bigger salary than their peers in other
countries, which suggests concerns about a feared exodus because of the 50% tax
on salaries above £150,000 have been overblown.

Research by financial recruitment specialists Selby Jennings found that
senior bankers are making twice as much after tax compared to those working in
Geneva or Zurich.

It comes alongside George Osborne rejecting suggestions of another bonus tax
on bankers, the
FT
reported
, but a levy on bank profits was a possibility.

Further reading:

Basel
chief says banking tax is “premature”

AATV:
Top tax advisers discuss Con-Lib plans

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