Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Latest NewsBonusesHR practicePay & benefitsRelocation

Goldman Sachs could move back-office jobs abroad to avoid new bonus tax

by Personnel Today 4 Jan 2010
by Personnel Today 4 Jan 2010

Goldman Sachs is said to be considering moving its back-office functions out of the UK in a bid to avoid the new bonus tax.

In the Pre-Budget Report in December, chancellor Alistair Darling announced a one-off 50% bonus tax on bankers’ bonuses worth more than £25,000.

The investment bank, which employs 5,000 people in London, is now thought to have asked an internal team to review various strategies to avoid the tax, which could include moving whole departments overseas to lower tax jurisdictions, the Daily Telegraph has reported.

The operations thought to be covered by the review include back-office functions, foreign exchange trading teams and the proprietary trading arm.

Last year, Goldman Sachs paid £1.1bn in UK corporation tax – the biggest contribution from the UK financial sector.

Meanwhile, brokerage firm Tullett Prebon has already offered its staff the chance to relocate overseas to reduce their tax burdens.

Avatar
Personnel Today

previous post
Acas code on time off for union reps comes into force
next post
Conservatives outline NHS proposals on pay performance and administration

You may also like

‘It’s International HR Day – wait, you didn’t...

20 May 2022

Policeman dubbed ‘Dolly Parton’ for working Nine to...

20 May 2022

Adapt culture to hybrid work: do not force...

20 May 2022

Women in FTSE 350 leadership: ‘A lot of...

20 May 2022

City firms pledge to improve social mobility in...

20 May 2022

Squishy, flabby, foggy HR? Andrew Bartlow talks to...

20 May 2022

Movers and shakers May 2022: John Lewis and...

20 May 2022

City workers desert offices in favour of hybrid...

20 May 2022

Working from home statistics show three-fold increase

20 May 2022

Statutory sick pay reforms would save £4bn

19 May 2022
  • Apprenticeships are the solution to your recruitment problems PROMOTED | Apprenticeships have the pulling power...Read more
  • What it really means to be mentally fit PROMOTED | What is mental fitness...Read more
  • How music can help to ease anxiety at work PROMOTED | A lot has happened since March 2020, hasn’t it?...Read more
  • Why now is the time to plug the unhealthy gap PROMOTED | We’ve all heard the term ‘health is wealth’...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2022

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2022 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+