7th Apr 2015 11:31
LONDON (Alliance News) - HSBC Holdings PLC could be facing an additional bill of several hundred million pounds under plans by the Labour party to increase the bank levy, a tax imposed on the balance sheets of British banks, Sky News reported on Tuesday.
HSBC would face the heaviest incremental tax burden under a Labour government, Sky said, with the party having pledged to raise an additional GBP800 million per year from the levy.
Sky said one investor in the bank, who asked not to be named, said the growing tax burden on the bank was prompting some of its largest shareholders to question the growing cost of the bank's UK domicile.
http://news.sky.com/story/1460175/hsbc-faces-new-hit-under-labour-bank-levy
By Sam Unsted; [email protected]; @SamUAtAlliance
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