Pension Schemes Bill: Virgin Media remedy - Provisions in the Bill will enable retrospective validation of rule changes which may have otherwise been invalid, following the Court of Appeal’s decision in the Virgin Media case....more
NICs relief in respect of pension contributions effected pursuant to salary sacrifice arrangements restricted to GBP2,000 of contributions – the National Insurance contributions (NICs) relief (in respect of employee and...more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions....more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. SUMMARY- • The autumn Budget introduces a GBP2,000 annual...more
The Budget Statement includes the following announcements relevant to pensions. Salary sacrifice - As had been widely anticipated, the National Insurance contributions (NICs) benefit of paying employee pension contributions...more
Following months of speculation, the Chancellor of the Exchequer Rachel Reeves has delivered her second Autumn Budget. Read a breakdown from our tax experts below. Against a backdrop of elusive economic growth, increasing...more
The Chancellor has today announced her highly anticipated autumn Budget. As speculated, the most significant change in relation to pension schemes was the introduction of an annual GBP2,000 cap on the amount of pension...more
The UK tax regime for carried interest is being substantially revised from April 2026. This Alert focuses on one particular aspect: the changes to how credit funds should calculate the average holding period (AHP) of their...more
Welcome to the December 2024 edition of our UK Tax Round Up. This month has seen interesting decisions on the basis for rescission of an arrangement with adverse tax consequences, the treatment of a loan from an EBT, the tax...more
The Autumn Budget contained the following key announcements affecting occupational pension schemes...more
The Chancellor’s announcement on Wednesday that the UK’s capital gains tax (CGT) rate for carried interest would be increased by only a few percentage points from 28% to 32%, effective April 2025, was welcome news to many....more
Welcome to November’s edition of the UK Tax Round Up. This month has seen the Chancellor’s Autumn Statement as well as an interesting confirmation from the Court of Appeal on the scope of “arrangements” for capital gains tax...more
One of the ramifications of the Israel-Hamas war is the growing interest of diaspora Jews and expat Israelis in immigrating to Israel. The National Insurance Institute and various government ministries grant a spectrum of...more
Entrepreneurs and businesspersons interested in operating businesses in the State of Israel must be aware of the obligations imposed on them as self-employed dealers and employers, and cope with a variety of obligations to...more
With the rise in inflation and downturn in economies, spin-offs have become an increasingly popular method of unlocking shareholder value in a down market. Often, the ability to obtain tax-free treatment in the U.S. for the...more
On 17 November 2022, the UK Government announced a number of significant tax measures in its Autumn Statement. There were no real surprises this time as many of the measures had been trailed in recent days. The tax changes...more
The UK government’s “Growth Plan” (or “mini-budget”), delivered on 23 September, announced that the recent changes to the United Kingdom’s off-payroll working rules will be repealed with effect from April 2023....more
The Chancellor today unveiled the UK’s 2022 Growth Plan which has been described as being “the biggest package of tax cuts in generations”. We have summarised here the tax changes that we think will be of interest to our...more
In this issue of UK Employment Flash, we examine the latest employment law developments, news and insights from the UK, including considerations for employers requiring staff to get the COVID-19 vaccine, the delayed rollout...more
As the end of the Coronavirus Job Retention Scheme (the "Scheme") approaches, employers should start to consider their plans in relation to any employees currently furloughed. In this alert, we have set out below some key...more
UK COVID-19 Developments - Furlough not detrimental to EMI options held on 19 March 2020 - On 26 June, the government introduced a new provision into the Finance Bill that provides that the period during which an...more
It is no secret that the Coronavirus (COVID-19) pandemic is having a significant impact on the economy. Chancellor Rishi Sunak recently stated that “it is now very likely that the UK is facing a significant recession at the...more
Companies and their workforces are in unprecedented circumstances, with COVID-19 changing situations and advice on a frequent basis. In this alert, we have set out below the key issues faced by employers across the UK and...more
Earlier this evening (26 March 2020) the UK Chancellor announced the new Self-Employed Income Support Scheme to help the self-employed face the economic hardship wrought by the COVID-19 pandemic. Below are the key points: ...more