British bankers may start to see holes being shot into their bonus payments after a Supreme Court ruling. The nation’s top court has opted to side with HM Revenue & Customs by agreeing that taxes could not be avoided when using a special scheme to award employees in shares.
Have you heard the news? Christmas is commercial these days, it’s all about money. Up until recently it used to be about money and having a nice time with family and friends, but now, apparently, it’s just about the money.
The European Banking Authority (EBA) is well known for its love of clarity and now the opaque nature of the difference between ‘allowances’ and ‘bonuses’ has been well and truly cleared up, just in time for Christmas.
Over a quarter (27 percent) of UK employees say the hope of receiving a financial bonus is their main motivator. Yet despite this a large portion of employers do not run any kind of monetary incentivisation programme.
The issue of bonuses is never without thorns, debates over how much and who gets the money continuously rage. In an attempt to make the process of awarding bonuses somewhat less secretive the government is to insist, as of next year, that employers include information about bonuses awarded to men and women, in their compulsory gender pay gap reports.