Bankers and their Bonus.

[nikonman]

I only hope that we find out that the bankers have been paying the full rate of tax on the bonuses they have already received and are about to receive.
I fully expect this will not have been the case, and that tax loopholes have been found.

Also i see from todays news that our Home Secretary has found a loophole in the law on claiming her housing allowance.

Has they say there is one set of rules for the rich and another for the poor.

[andy at handiwork]

Bear in mind that Brown et al are likely to be looking for new jobs soon. They dont want to upset the bankers too much just in case.

[randyandy]

andy at handiwork wrote:

> Bear in mind that Brown et al are likely to be looking for new
> jobs soon. They dont want to upset the bankers too much just in
> case.

Sorry the bit "They dont want to upset the bankers too much just in case" is Tosh.

By the way wasn't at least one of the lovely Green Dave's mob found to be paying his son for work he wasn't doing recently?

Loop holes should and probably will be closed soon. Bankers need to be stamped on and I suspect that will also happen soon.

[andy at handiwork]

randyandy wrote:

>Bankers
> need to be stamped on and I suspect that will also happen soon.
>
>

I'm not holding my breath.

[steve56]

ive only had a bank account 2 years and pisses me off when i keep getting asked to pay 12,50 a month insurance

[Dave Wells]

Correct me if I'm wrong gang but these supposed bonuses are cash aren't they which makes them tax free ! Which if I'm right must be made illegal before these robbing bastards get away with it like they have for the last 10-15 years.

[JonnyHungwell]

There should be retrospective legislation to take back bonuses from the last 10 years - with long jail terms as an alternative for those who can't repay.

[The Cream Bun]

as far as I have seen (as someone who works in a Bank) - bonus are primarily cash and most of the former loopholes around payment in non-cash assets (e.g. gold etc) have long been closed. bonuses are sometimes deferred to defer tax liability but not get rid of.

the only non cash / tax advantageous bonuses I have seen in recent years have been taking a proportion of bonuses in own shares or future share options and whilst that looked tax advantage at the time, it certainly hasn't been a good financial move!

And as someone who works in a City job but in a risk management function and has worked harder in 08 than any other year of my 18 in the bank it will feel pretty odd if this is the year I don't get a bonus and basically earn less than previously. However I accept that I earn better than the average national pay and so can't realy complain, but the government need to be careful that in hammering bonuses for our failing Executives they don't hammer everyone else, as well just to satisfy some scapegoatism. Some people who work in Banks are also "hard working british families" ( (c) "New Labour" ) as well!

[one eyed jack]

Im sure all those who criticise would find reasons to defend their corner if they were those bankers getting their bonuses.

Not that i agree with it but I did watch a documentary recently that stated if these bankers dont get any cash incentive to stay they will go overseas to Asia and leave us to clean up the mess they got us into anyway.

Not nice I know but true. We are living in a selfish age of mercenaries taking what they can because it is there.

Kinda like people justifying reasons for downloading stuff on torrent sites so why shouldnt bankers justify their massive bonuses?

[randyandy]

I think this is an idea time for the whole bonus scheme to be looked at.

A considerable number of years ago the company I worked for bought out our bonus scheme.

There was outrage at the time - the bonus sometimes was half a weeks pay if not more and at Christmas was almost ?1000.

The business reason for doing it was it wasn't economical to keep paying it and it was either do this or we shut.

It was a bollocks excuse. Us young uns (at the time) knew it but the carrot dangled resulted in the 'oldies' close to retirement and those who thought yes take it then leave accepted it and it got in.

The young uns argued that if the package was accepted there would be a mass exodus of young uns but because the package that bought the bonus scheme out included a pay rise and a much smaller but tighter controlled bonus scheme the exodus never happened on the scale imagined.

Some of the oldies did retire early but all this did was give promotion to others.

IF banks are worried that staff will go if they are not paid for failing they should take the gamble.

If someone came in front of me with failure on their CV I'd seriously have to think before I employed them and I think it would be the same for the banks in Asia (who are also struggling) and the other places that these people believe they can just go to.

If they did go there loss would be no big loss and if it did happen it would open up opportunities for others.