U.K. Bankers Surrender on Bonus Levy as Income Tax Rise LoomsAndrew Macaskill and Ambereen Choudhury and Ben Martin
Banks in the U.K. will pay the one-time, 50 percent tax on bonuses levied by the Treasury rather than reduce compensation, according to accountants and lawyers who advise financial institutions. Bankers who face increased income taxes on those payouts may not be so accommodating.
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