JPMorgan are close to a £500 million settlement with the Government over a tax-avoidance scheme for bonuses, according to the Financial Times.
The investment bank is reportedly winding up a Jersey-based trust and has asked more than 2,000 current and former staff to contribute to the settlement.
The news comes with corporations' tax affairs facing increased scrutiny, after Starbucks this week responded to public anger by volunteering to pay millions of pounds to the Treasury.
More top news
A dog has been found with its paws frozen to the ground in a New York park after being chained to a tree.
Dramatic footage has emerged of a mother and her toddler being rescued after their car plunged into an Amsterdam canal on Tuesday.
Beth Tweddle has begun walking unaided following neck surgery after injuring herself during training for TV reality show 'The Jump'.