I was trying to figure out why they were paying them and then:
Insiders denied that the September bonus round had been planned all along in a bid to avoid paying extra taxes.
Ah, yes, the special 50% bonus tax was a \”one off\” wasn\’t it? Applies only to bonuses paid before April 5th this year.
Now, we all know that \”one off\” can become a series of \”one offs\”: this is why we\’re still paying income tax to defeat Napoleon.
However, if the Treasury is going to try and impose such a tax again this year then CS has beaten them to the punch. For of course, (well, at least if the Treasury is going to try and maintain any relationship at all with the spirit of the law) and tax imposed in this financial year will only apply to bonuses paid after the announcement of the tax and before the end of the tax year.
Be interesting to see what you know who says about it.