The UK’s pre-budget report delivered on 9 December 2009 announced a new Bank Payroll Tax that applies to banks and building societies on bonuses over £25,000. The stated aim is to encourage banks to consider their capital position and make appropriate risk adjustments when setting the level of bonus payments. The concept is simple, but the implementation will be complex and have negative commercial implications for the UK’s financial service industry.
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Latest Updates
- 2010-01-28UK
- 2010-03-11
Taxand further increases market presence through provision of truly global advice to multinational business.
Download a copy of the survey here
Taxand increased, from 31 last year to 33 in 2010, the number of members that have been voted top tax transactional firms by International Tax Review in an annual poll of its readers. The survey, which spanned 46 jurisdictions, gauges the opinions of tax executives, officials and advisors on tax firms' advisory strengths.
- 2010-03-01Australia
The legislation to replace the current regulation of tax agents was introduced into the Australian Parliament in 2008 and passed along with separate transitional legislation in 2009. The regime gets underway on 1 March 2010. As with other new or revised regulatory regimes, there are borderlines that have to be established and which are currently uncertain in application. Greenwoods & Freehills latest tax brief discusses when registration is required under the new regime and how the regime may impact unexpectedly on clients.
Taxand is a global network of tax advisory member firms. Each member firm is a separate and independent legal entity responsible for delivering client services.