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Government Investigations in Singapore 2025
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
United Kingdom | Publication | April 2024
The lifetime allowance was abolished with effect from April 6, 2024. HMRC has published two newsletters on the topic, and also confirms that further minor technical changes are to be made in additional regulations later this year.
HMRC’s newsletter 157, published on March 28, 2024, sets out HMRC's responses to 39 frequently asked questions on the LTA abolition. They deal particularly with issues relating to retirements around April 6, 2024, and the transitional certificates for those members’ tax-free amounts.
Newsletter 158, published on April 4, 2024, highlights some key issues about the impact of the regulations that became effective from April 6, 2024. Further regulations will make minor changes, backdated to April 6, so schemes should ensure that members are aware that they may need to wait until these are effective before taking or transferring certain benefits, as their tax position could change.
The main instances for delay in proceeding include:
HMRC has begun the process of updating its online tax manual to reflect the LTA abolition and the new allowances. It has also updated its guidance for scheme administrators.
Publication
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
Publication
The private credit market and direct lending have grown and diversified immensely in the past decade, offering alternative sources and terms of debt compared to those historically provided by the syndicated leveraged loan and public issuance markets. Consequently, they are fast becoming pivotal components in the capital ecosystem, so much so that the Bank of England consider that the private credit market is currently responsible for approximately $1.8 trillion of debt issuance, which is four times its size in 2015. This growth has been particularly pronounced in Europe and the US but there has also been significant activity in Asia.
Publication
The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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