Data published this week by the Office for National Statistics (ONS) shows that bonus payments paid in the whole UK economy were £1.7 billion ($2.6 billion) higher in April 2013 than in April 2012. This shifting of the bonus season – to avoid employees being hit by the higher rate of income tax – is a sign that at least some companies are shunning perceived reputational concerns about bonus deferral.
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Pillar two might be top of mind for many multinational companies, but the huge variations between countries’ readiness means getting ahead of the game now, argues Russell Gammon, chief solutions officer at Tax Systems.