Goldman Said Refrains From Delaying U.K. Bonus Payouts

Old Goldman Sachs

Goldman Sachs won’t delay distribution of U.K. bonuses to help minimize employees’ tax rates, a person with direct knowledge of the decision said.

Bloomberg reports that the firm had considered postponing incentive compensation due to employees from 2009, 2010 and 2011 until after top income-tax rates drop in April.

Bank of England Governor Mervyn King said Tuesday it’s 'depressing' that banks may be willing to shift bonus payments to minimize workers’ tax burden.

This week, the Financial Times and other media reported that Goldman Sachs was reviewing whether to delay U.K. bonus payments due from prior years to help employees pay lower rates. The reports were met with criticism from U.K. politicians and King.

Hit the link below to access the complete Bloomberg article:

Goldman Said to Refrain From Delaying U.K. Bonus Payouts

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