/ Goldman Sachs bonuses delayed to get a further tax break.
Even the Governor of the Bank of England has 'got mildly irritated about it.
Are you mildly irritated?
Nope. For example I've timed the selling of shares with regard to the beginning and end of the tax year. Further, the tax rate they'll pay on the bonuses, 45%, is higher than the tax rate they'd have paid throughout most of the previous Blair/Brown governments. I find it hard to regard a 45% tax rate as too low.
Yes. HMRC are looking into it, supposedly. Though what they can do, I dunno.
Not me. People will get all worked up because of the size of the figures involved and because we are talking about bankers but take a step back. Is delaying payment by a few weks to pay less tax any different in principle from me buying stuff early to avoid the well-publicised rise in VAT (as I did)? I can't see the difference myself.
Seems like a surprisingly transparent move, by banking industry standards.
I'm not necessarily against a 45% tax rate but coupled with such low wealth taxes it seems perverse.
I only hope my employers have the wit to delay my bonus until after April 5th. In fact, I'll give my finance office a call to ensure that they do.
I wonder how many bankers are thinking...
Now, if I could repay all last year's salary back to my employer on the 5th of April and then have it re-paid to me on 6th April would I be entitled to a tax rebate?
To be honest its probably all a sham. GS are so ahead of everybody else, they will have worked out that this is good publicity.
Must have been that 'savaging' they got from from Mervyn , that made them think again, did you hear/ see it ? It was a killer blow , so how could they go against him after oratory like that;)
Don't recall GS getting any money from the UK taxpayer?
Wouldn't you? Know I would. Rules are rules, play by them.
The problem is the rules, not GS.
> Wouldn't you? Know I would. Rules are rules, play by them.
> The problem is the rules, not GS.
So do you think , for example, Jimmy Carr was therefore stupid to stop what he was doing with his tax 'arrangements' as there were no rules to prevent him, it was pressure from David Cameron and others that seemed to stop him.
For some reason, GS have now decided that they will not delay their bonus to take advantage of what was already a windfall that some may think they were lucky to be getting, so I take it you think this was a bad decision, and one you would not have made in their position.
Yep. Neither was breaking 'the rules'. No reason to have changed their arrangements.
Cameron's dad has a few quid offshore (panama mostly) so it's a bit rich using him as any sort of example.
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