Tag Archives: bonuses
It is tempting, when seeing the words ‘any bonus payment shall be at the company's absolute discretion’ in an employment contract to think that the employer's discretion will in fact be 'absolute'. As usual though, when the law is involved, … Continue reading
The Government has published its long-awaited final form draft regulations on gender pay gap reporting. Subject to Parliamentary approval, the new requirements are due to apply to private sector employers with 250 or more employees from 6 April 2017. A … Continue reading
The Information Commissioner's Office has issued interim guidance following the publication of the proposed EU-US Privacy Shield framework to facilitate the transfer of personal data from the EU to the US (see here). The ICO helpfully confirms that it is … Continue reading
Recent decisions of the Australian Courts have highlighted the limits, in the form of an implied term, on an employer’s contractual discretion to award bonus payments.
Last year's Supreme Court ruling (see here) that employers may be required to consider all relevant factors and discount irrelevant ones (the public law concept of "Wednesbury unreasonableness") when reaching factual decisions (Braganza) opened up the possibility that this duty might … Continue reading
The High Court of Singapore has confirmed the proposition that discretionary bonuses are exactly that: discretionary. Employees do not have a contractual entitlement to a discretionary bonus.
Yesterday afternoon it was announced that the UK Government has launched a legal challenge in the Court of Justice of the European Union against the cap on variable remuneration introduced by the new capital requirements directive (“CRD IV”). Although this … Continue reading
The Court of Appeal has dismissed an appeal from the High Court's ruling that Dresdner Kleinwort had contractually committed to a minimum bonus pool from which it could not renege, despite deteriorating financial circumstances. The Court of Appeal endorsed all … Continue reading
The European Commission intends to replace the existing Capital Requirements Directive (2006/48/EC and 2006/49/EC) (CRD) with a regulation and a directive: the proposed Capital Requirements Regulation (CRR) and the proposed CRD IV Directive. The detailed EU report on the proposal … Continue reading
UK: Taxation of claw-backs – Tribunal allows an employee to use a repaid bonus to reduce his income tax liability; opportunity for companies to operate claw-back on a tax efficient basis
Taxation of claw-backs: Tribunal allows an employee to use a repaid bonus to reduce his income tax liability; opportunity for companies to operate claw-back on a tax efficient basis The First Tier Tax Tribunal (Julian Martin v The Commissioners for … Continue reading