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Bonus Deferrals and Clawbacks

 
Richard Rolls and Alison Hughes of KPMG consider the tax implications of bonus deferrals and clawback arrangements
 
Bonus deferrals and clawbacks are the subject of much current debate especially in the financial sector. Recent developments include the FSA's draft code on remuneration practices urging greater use of annual bonus deferrals and clawbacks and individual employers have also begun to modify their pay arrangements in response to investor and government concerns. This article considers some of the UK tax issues associated with deferrals and clawbacks.
Bonus Deferrals
 
Most large UK listed companies now operate deferred bonus plans alongside their long-term incentive plans. Deferral under such plans is almost invariably into shares with annual bonus deferrals being made...

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