Barclays 2010 Annual Report Download - page 209

5 Net investment income
2010
£m
2009
£m
2008
£m
Net gain from disposal of available for sale assets 1,027 349 212
Dividend income 116 6 196
Net gain/(loss) from financial instruments designated at fair value 274 (208) 33
Other investment income/(losses) 60 (91) 239
Net investment income 1,477 56 680
6 Impairment charges and other credit provisions
See page 87 for analysis of the impairment charges and other credit provisions.
7 Staff costs
2010
£m
2009
£m
2008
£m
Salaries and accrued performance costs 8,809 7,795 5,562
Share based payments (Note 39) 860 286 225
Social security costs 719 606 444
Bank payroll tax 96 225 –
Post retirement benefits:
– defined contribution plans 297 224221
– defined benefit plans (Note 28) 213 (33) 89
– other post-retirement benefits (Note 28) 18 16 1
Other 904 829 662
Staff costs 11,916 9,948 7,204
The UK Government applied a bank payroll tax of 50% to all discretionary bonuses over £25,000 awarded to UK bank employees between 9th December
2009 and 5th April 2010. The total bank payroll tax paid was £437m, of which £225m was recognised in 2009 in respect of 2009 cash awards and
certain prior year deferrals distributed during the taxable period. For 2010 a charge of £96m has been recognised in relation to prior year deferrals, with
the remaining £116m recognised over the period 2011 to 2013.
Staff costs above relate to continuing operations only. Staff costs arising on discontinued operations for 2009 totalled £735m (2008: £575m), principally
comprising £514m of salaries and accrued performance costs (2008: £486m), social security costs of £15m (2008: £20m), post-retirement benefits of
£29m (2008: £16m) and other staff costs of £177m (2008: £53m).
The average total number of persons employed by the Group including both continuing and discontinued operations was 151,300 (2009: 153,800).
8 Administration and general expenses
2010
£m
2009
£m
2008
£m
Property and equipment 1,813 1,641 1,356
Outsourcing and professional services 1,705 1,496 1,472
Operating lease rentals 637 639 520
Marketing, advertising and sponsorship 631 492591
Subscriptions, publications and stationery 584 519 458
Travel and accommodation 358 273275
Other administration and general expenses 732 439 491
Impairment of property, equipment and intangible assets 125 61 30
Administration and general expenses 6,585 5,5605,193
In June 2010, the UK Government announced its intention to introduce a bank levy, which will apply to elements of the Group’s consolidated liabilities
and equity held as at 31st December 2011. The draft legislation is expected to be enacted by the UK Parliament later this year. Based on the
31st December 2010 balance sheet position and the draft requirements, we estimate that the bank levy would result in an annual charge to the income
statement of approximately £400m from 2011 onwards.
Barclays PLC Annual Report 2010 www.barclays.com/annualreport10 207
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