Goldman May Move 20% of UK Staff to Spain

Goldman sends a warning to the Brits through Simon Evans of the International Herald:

Goldman Sachs has threatened the UK Treasury with plans to move up to 20 per cent of its London-based staff to Spain in a standoff over tax and bonuses.

It's believed that the Wall Street investment bank, which paid more than £2bn to the Exchequer's ailing coffers in corporation tax alone last year, has fired a warning shot across the Government's bows in response to the tax measures unveiled in the pre-Budget report earlier this month...

The bank, which employs around 5,000 staff in London, is believed to have strong links to the Spanish government, although it has a relatively modest number of employees in the country. Although staff moving to Spain would not receive any special tax incentives, the bank could avoid paying the bonus tax...