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
The Suitsy: Man creates business suit onesie
Alex Salmond has announced his intention to end a 24-year career at the forefront of Scottish politics. Here is a brief look at his career.
Britain is among the least devolved countries in the world, figures from the RSA show.