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.
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.
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