Bonus tax could net a windfall of £2.5bn

Posted on

Bonus tax could net a windfall of £2.5bn | Mail Online.

The Treasury could reap a multi-billion pound bonus tax windfall as banks vow to press ahead with payouts rather than lose high-flying staff to foreign countries.

Pay expert Jon Terry, of PricewaterhouseCoopers, said the government may rake in far more than previously expected - as much as £2.5billion - as firms decide to take a one-off hit rather than slash their bonus pots.

Which would dispel a lot of myths - one being that tax will drive people away.

But it also asks a much harder question - which is why sharehodlers are not saying no.

That is what I really want to know - because if this tax is used to reduce shareholder return it will be really revealing.