United Kingdom | Publication | February 2024
On January 30, 2024, the PPF published its annual levy ceiling Order, which will apply from April 6, 2024.
The PPF has confirmed that it intends to collect an estimated £100m from eligible DB schemes for the 2024/25 financial year. This represents an 8.2 per cent increase over the previous year, due mainly to the growth in average weekly earnings in the year to July 2023. The levy funds the compensation the PPF provides to members of schemes with insolvent employers.
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We are delighted to be participating in Marine Money Week New York 2024. As one of the landmark events for the global shipping finance community, and with the global shipping and maritime industry at such a pivotal juncture, we look forward to catching up with clients and contacts to continue discussions around navigating the current challenges and opportunities.
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Taking place across three webinars, our team of experienced lawyers and consultants, along with industry professionals and regulators, explore the latest ESG developments and trends within financial services regulation. This series takes a cross jurisdictional perspective, covering ESG financial services regulation and trends from across the globe.
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As of 1 January 2024, the Income Inclusion Rule (IIR) of the OECD Pillar 2 proposal will impose an additional tax on the ultimate parent company of a group if a foreign subsidiary is effectively taxed below 15%.
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