Insurance companies avoid bonus supertax
HMRC clarifies who will be affected by the 50% bank payroll tax on bonuses over £25,000
HM Revenue and Customs (HMRC) has clarified that insurance companies will not be affected by the 50% bank payroll tax on bonuses over £25,000 announced in the pre-budget report (PBR).
As reported on broking.co.uk, concerns had been raised the draft legislation, which will hit discretionary bonuses awarded between 9 December and 5 April 2010, could potentially catch activities unconnected with banking, such as insurance.
In a statement HMRC said: "Since PBR we have received a number of
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Aviva to open branches in Chelmsford and Southampton
- Pen inks £150m social housing capacity deal with SiriusPoint