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Keeping your dawn raid guidance current
Unannounced inspections or ‘dawn raids’ are used by antitrust authorities to obtain evidence when there are suspicions that individuals or businesses have infringed the antitrust rules.
United Kingdom | Publication | February 2023
Ahead of the Budget on March 15, 2023, the Institute for Fiscal Studies has published its Blueprint for a better tax treatment of pensions in which it proposes:
The thinking behind these changes takes into account the current tax treatment of pensions, which is “exempt-exempt-taxed”. Essentially, contributions are tax free, as are investment returns, then withdrawals in the form of pension income are taxed. However, NICs are generally subject to more generous treatment and are effectively “exempt-exempt-exempt” throughout the pension process.
Comment
The IFS believes its proposals are more equitable. However, it remains to be seen whether the Government would be willing to shoulder the political cost of such radical tax changes.
A lesser measure that would be more palatable for the working population, particularly as the Government is encouraging people out of retirement and back to work, is the abolition of the money purchase annual allowance and the reinstatement of annual increases to the lifetime and annual allowances.
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Unannounced inspections or ‘dawn raids’ are used by antitrust authorities to obtain evidence when there are suspicions that individuals or businesses have infringed the antitrust rules.
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The EU Foreign Subsidies Regulation, or FSR, is intended to prevent or remedy distortions of the EU internal market caused by “foreign” – meaning non-EU – subsidies benefitting companies active in the EU.
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The English High Court has given its judgment in the legal battle between FW Aviation (FWA) and VietJet Aviation Joint Stock Company (VietJet). This case revolved around the enforcement of leasing agreements for four Airbus aircraft and the alleged interference by VietJet in the aircraft’s repossession in Vietnam.
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