Top bankers may have their bonuses delayed for up to 10 years, MPs propose
What a stupid idea !!! A banker's bonus is considered to be income and is therefore taxable. So, if it is held in some sort of escrow, for ten years,presumably gathering interest, it cannot be taxed until they receive it. At that time they may pay very little tax on it.
However, as it is earmarked as their money, then, just like a pension plan, they could and certainly will, borrow against this future income, which is guaranteed. So they would get the benefit from the use of that income, with any loan interest, being tax deductible.
This is, yet again, a great deal for the bankers !!!
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