Credit Suisse was accused yesterday of "sophisticated and aggressive tax avoidance" after the investment bank and wealth management group briefed staff that an unexpected one-off bonus would be awarded to hundreds of its London-based bankers tomorrow - less than five months after the government's 50% levy on bank bonuses expired.The bank had initially won praise in some quarters for curbing 2009 bonuses in response to the tax on bankers' rewards announced by the then chancellor, Alistair Darling, last December.In effect, it appeared that Credit Suisse bankers were to shoulder this temporary tax burden, whereas several other investment banks chose to pass on the tax charge to shareholders.
Credit Suisse was accused yesterday of "sophisticated and aggressive tax avoidance" after the investment bank and wealth management group briefed staff that an unexpected one-off bonus would be awarded to hundreds of its London-based bankers tomorrow - less than five months after the government's 50% levy on bank bonuses expired.
The bank had initially won praise in some quarters for curbing 2009 bonuses in response to the tax on bankers' rewards announced by the then chancellor, Alistair Darling, last December.
In effect, it appeared that Credit Suisse bankers were to shoulder this temporary tax burden, whereas several other investment banks chose to pass on the tax charge to shareholders.
