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That banker who could have taken his bonus from RBS...
...by not taking it hasn't he potentially cost the government, and therefore the public purse, a further 500,000 in income tax?
...by not taking it hasn't he potentially cost the government, and therefore the public purse, a further 500,000 in income tax?
Edgy wrote:
...when they receive them as a bonus they're charged normal income tax aren't they? Additional higher rate is 50% I believe...
I'm not sure they do! Or National Insurance! - there are many Government approved share 'option' and 'incentive' schemes where you don't pay upfront tax & NI.
Something called the 'Enterprise Management Incentive' would get round it for more normal bonuses it looks like - but I think your example is well above the EMI threshold (£120,000).
Like you say, I think you need to be a tax expert to really know as things are so complicated.
...when they receive them as a bonus they're charged normal income tax aren't they? Additional higher rate is 50% I believe...
I'm not sure they do! Or National Insurance! - there are many Government approved share 'option' and 'incentive' schemes where you don't pay upfront tax & NI.
Something called the 'Enterprise Management Incentive' would get round it for more normal bonuses it looks like - but I think your example is well above the EMI threshold (£120,000).
Like you say, I think you need to be a tax expert to really know as things are so complicated.
[s]Hmmm...[/s]
That's when they sell the shares as a capital gain isn't it? when they receive them as a bonus they're charged normal income tax aren't they? Additional higher rate is 50% I believe...
Then again, as I'm not a millionaire banker who gets offered massive bonuses I wouldn't say I know mug about the subject :P
Then again, as I'm not a millionaire banker who gets offered massive bonuses I wouldn't say I know mug about the subject :P
Edgy wrote:
That banker who could have taken his bonus from RBS...
...by not taking it hasn't he potentially cost the government, and therefore the public purse, a further 500,000 in income tax?
It looks like people taking bonuses paid in shares only end up paying 18% Capital Gains Tax rather than the normal Income Tax rates! #LoopHole
That banker who could have taken his bonus from RBS...
...by not taking it hasn't he potentially cost the government, and therefore the public purse, a further 500,000 in income tax?
It looks like people taking bonuses paid in shares only end up paying 18% Capital Gains Tax rather than the normal Income Tax rates! #LoopHole
[s]Hmmm...[/s] 
I like the way that I can usually find pb staring out at me ;-D
For some reason I'm drawn to a particular widget on the right hand of the page reading your post there Tony :P
'Like' heavy stuff here ;¬)
Some American came over with some "friends" and stole the word "Like" from the English dictionary. He is using it mainly to raise money on the US stock market.
But he also uses it in the phase "Would you like some friends?" which now means "Can I steal all the information from your computer so that I can show you the right adverts from our partners, good gullible UK buddy?"
But he also uses it in the phase "Would you like some friends?" which now means "Can I steal all the information from your computer so that I can show you the right adverts from our partners, good gullible UK buddy?"
Haha - what have I missed in the last however many months?
Edgy wrote:
That banker who could have taken his bonus from RBS...
...by not taking it hasn't he potentially cost the government, and therefore the public purse, a further 500,000 in income tax?
Why don't you ask him if he would have paid tax on it - he's on the forum here you know (see the Censorship thread) - well maybe he's gone now, but he was here.
That banker who could have taken his bonus from RBS...
...by not taking it hasn't he potentially cost the government, and therefore the public purse, a further 500,000 in income tax?
Why don't you ask him if he would have paid tax on it - he's on the forum here you know (see the Censorship thread) - well maybe he's gone now, but he was here.
That banker who could have taken his bonus from RBS...
...by not taking it hasn't he potentially cost the government, and therefore the public purse, a further 500,000 in income tax?
...by not taking it hasn't he potentially cost the government, and therefore the public purse, a further 500,000 in income tax?