April Saw ‘Unusually High’ Number of Finance Industry Bonuses

U.K. financial-services firms paid an “unusually high” amount of bonuses in April, the ONS says, as the top rate of income tax was cut that month to 45 percent from 50 percent. Bonus payments in finance were 1.3 billion pounds in April compared with 600 million pounds a year earlier. All bonuses totaled 38.6 billion pounds between 2012 and 2013, below the 43 billion pounds in the financial year 2008. — Niraj Shah

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