Banks already planning to duck bonus tax

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PBR 09: Banks already planning to duck bonus tax - Accountancy Age.

According to Accountancy Age:

New banking bonus clampdowns will hit the attractiveness of the UK as a place for financial services, and banks were already planning to duck the tax.

The introduction of a 50% tax on bankers' bonuses – to be paid by the banks – could put the UK at a competitive disadvantage, said A&M Taxand managing director Ian Fleming.

"How do you define 'banks', or 'bonuses'?"

He warned that banks were already looking at tax planning around the new requirements – and it would be hard to draft legislation to stop the shift.

With ease is the answer.

I've done it here.

And making it an offence to assist a person to avoid this obligation would be very helpful too.