BDO noted back in February that a number of financial institutions were working around the clock to pay executives their bonuses before April in a bid to avoid the new 50p tax rate for high earners.

Well, it looks like big business has followed the lead of finance to keep their high earners happy.

Tesco, Whitbread, SAB Miller, Land Securities and the London Stock Exchange, Dairycrest, Invensys and Allen & Overy have all brought forward payments to avoid the new rate, which starts on April 6.

Elsewhere entrepreneurs have been extracting cash from their companies before the tax rate rises from 40% to 50%.

The irony of high taxes for high earners; if you’re rich enough you can avoid them.