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PPI Claim News - 1/3/2010

 
Payment Protection Insurance: Reports bankers are 'fleeing' supertax

A Swiss newspaper has claimed that a number of London-based bankers from Credit Suisse and UBS are fleeing the capital to avoid the supertax.

According to NZZ am Sonntag, up to 200 employees are scheduled for a relocation to Switzerland in a bid to evade the high-rate tax on bonuses of £25,000 or more, as imposed by the chancellor Alistair Darling.

Both the banks have declined to comment on the allegations, but Sean Drury, a partner at PricewaterhouseCoopers, told City AM that countries like Switzerland are looking "increasingly attractive" to the finance profession.

The revelation comes after other UK bankers have threatened overseas relocation in the face of handout regulations.

However, while the UK is taking measures to restrict the amount bankers can be paid in reward schemes, this has not deterred debt-ridden banks from paying out financial remuneration to their top performers.

On Thursday last week (February 25th) it emerged that, despite seeing a loss of £3.6 billion in 2009, the 84 per cent taxpayer-owned Royal Bank of Scotland had administered £1.3 million in bonus schemes for the same period.

If you would like to get your payment protection insurance back - PPI Claim from the Royal Bank of Scotland then fill out the Quick Claim form or call Belmont Thornton on 0845 526 0000 for PPI claim advice.ADNFCR-2776-ID-19642490-ADNFCR



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