Reply to: PBR: I was out drinking and missed everything

[Doggy Styles]

It won't bring in one penny but will cost several million to administer...

Wouldn't that make it an ocean in the drop?

[TheFaQQer]

I don't understand. Could you make yourself claer?

Dog's Heinous
F&*k'in the idiots!

clear

HTH

[TheFaQQer]

Your grammar is a joke! Looser.

Loser

HTH

[conned tractor]

Your grammar is a joke! Looser.

I'd love to know what he is looser than.

[MrMark]

I think Noel Edmonds should have a word with his banker.

[rootsnall]

Just listened the 'highlights' and enjoyed the genuine laughter when he said, with what I imagine was a straight face, words to the effect of "we are taking these measures from a position of strength" and "next year we will be cutting borrowing from £178 Bn to £176 Bn". We are ****ed !

We need some Irish medicine, they have slashed public sector pay by a large chunk, and more for the senior bods.

[Platypus]

Do contractors get bonuses?

No, they raise invoices.

[d000hg]

Exactly - why not set up a company, have the bonus paid into there as "consultancy fees" and draw the money out over time?

Sorted.

Do contractors get bonuses?

[Platypus]

That means a bunch of Plans B for those with the nous and the capital:

- company formation;

Exactly - why not set up a company, have the bonus paid into there as "consultancy fees" and draw the money out over time?

Sorted.

[norrahe]

I was under the impression most ****** bankers were non-doms and their bonus payment would be wired to their Cayman Islands bank account.

Can't see much tax to be made taxing bankers.

and those aren't already non dom will be in the coming months

[DimPrawn]

I was under the impression most ****** bankers were non-doms and their bonus payment would be wired to their Cayman Islands bank account.

Can't see much tax to be made taxing bankers.

[RichardCranium]

Cue all bankers setting up as contractors.

That means a bunch of Plans B for those with the nous and the capital:

- company formation;
- banker recruitment agencies;
- specialist accountancies;
- BankerUk forum;
- contracting guides;
- etc.

And a special mention for the first outfit to set up a "98% income guaranteed" overseas investment vehicle ... that results in them being taxed to buggery.

[TheFaQQer]

It won't bring in one penny but will cost several million to administer, so it will be an imaginary drop in a very real ocean.

Vince Cable said pretty much the same thing - how are they going to administer it?

[Mich the Tester]

Strictly speaking there is something about bonuses being assessed on the period for which they apply rather than when they are actually paid. however, there is nothing in the actual text of the PBR that mentions anything about it - they reckon it will bring in £500m which is a drop in the ocean really.

It won't bring in one penny but will cost several million to administer, so it will be an imaginary drop in a very real ocean.

[TheFaQQer]

Oh now I understand. I can explain precisely how this will work in practise. All bonusses will be paid out on April 6th 2010.

Strictly speaking there is something about bonuses being assessed on the period for which they apply rather than when they are actually paid. however, there is nothing in the actual text of the PBR that mentions anything about it - they reckon it will bring in £500m which is a drop in the ocean really.