E&Y warns that UK bonus windfall tax could hit (re)insurers
Global accountancy firm Ernst & Young has warned that the initial draft of the UK government's proposed one-off windfall tax on bankers' bonuses casts a far wider net over UK financial services firms, including Lloyd's managing agents.
Matthew Taylor, insurance tax partner at Ernst & Young, said that in its current draft the Bank Payroll Tax announced in last week's UK Pre-Budget Report is likely to catch more companies and groups than just banks.
Taylor commented: "The legislation as it...
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