FT.com / UK / Business - UK Treasury hints at extending supertax.
Treasury ministers and officials threatened on Tuesday to extend the one-off levy on bank bonuses if avoidance became widespread.
The temporary 50 per cent bank payroll tax on bonuses is due to end on April 5 2010. But on Tuesday officials warned banks thinking of simply deferring bonus decisions into the new financial year that the legislation could easily be extended.
Liam Byrne, the Treasury chief secretary, told MPs: “We remain open to the possibility of extending this legislation and tax if we see the kind of avoidance measures that some have been talking about.”
Good. That's what we wanted to hear.
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