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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
PPF levy ceiling set for 2023/24
Vereinigtes Königreich | Publikation | Februar 2023
On February 6, 2023, the statutory instrument that will set the PPF levy ceiling for the 2023/24 financial year was made and laid before Parliament.
The Levy Ceiling Order 2023 provides that the overall PPF levy ceiling will rise from £1,178,605,581 to £1,246,964,705 for the financial year beginning on April 1, 2023. The increase reflects the rise in average weekly earnings of 5.8 per cent over the review period of the 12 months to July 31, 2022. In practice, the PPF calculates how much it needs to raise under the levy each year and to date this amount has always been significantly less than the levy ceiling. The PPF confirmed its final levy determination and rules for 2023/24 on December 13, 2022, and most levy paying schemes should see a reduction in their next levy bill.
The Levy Ceiling Order 2023 provides that the overall PPF levy ceiling will rise from £1,178,605,581 to £1,246,964,705 for the financial year beginning on April 1, 2023. The increase reflects the rise in average weekly earnings of 5.8 per cent over the review period of the 12 months to July 31, 2022. In practice, the PPF calculates how much it needs to raise under the levy each year and to date this amount has always been significantly less than the levy ceiling. The PPF confirmed its final levy determination and rules for 2023/24 on December 13, 2022, and most levy paying schemes should see a reduction in their next levy bill.
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