Goldman won’t delay UK bonuses

LONDON — Goldman Sachs decided Tuesday that it would not delay the payment of bonuses to its staff in Britain, a move that would have helped investment bankers and other highly paid employees to benefit from a lower income tax rate.

The decision came as lawmakers criticized banks that were considering paying bonuses later than usual. The top tax rate in Britain is scheduled to drop to 45 percent, from 50 percent, on April 6.

Goldman Sachs’s compensation committee had considered delaying the bonus payments but decided at its meeting Tuesday not to proceed, said a person with direct knowledge of the decision, who declined to be identified because the meeting was not public.


Goldman Sachs was already drawing US scrutiny after it distributed $65 million in stock to 10 senior executives in December instead of January, when the firm typically makes such awards. That move helped the executives avoid the higher tax rates that will now be imposed on income of $400,000 or more.

A spokeswoman for Goldman Sachs declined to comment.