Publication
Road to COP29: Our insights
The 28th Conference of the Parties on Climate Change (COP28) took place on November 30 - December 12 in Dubai.
New regulations published correcting anomalies in LTA abolition provisions
United Kingdom | Publication | October 2024
The lifetime allowance was abolished with effect from April 6, 2024. HMRC consulted over the summer on two sets of amending regulations making technical changes to the previous LTA regime and these have now been laid before Parliament. They are due to be brought into force on November 18, 2024, and have retrospective effect from April 6, 2024.
The draft Pensions (Abolition of Lifetime Allowance Charge etc) (No 3) Regulations 2024 were laid before Parliament for approval on October 7, 2024. They include amendments on the definition of “applicable amount” in calculating the permitted maximum for a pension commencement lump sum.
In addition, the Pensions (Abolition of Lifetime Allowance Charge etc) (No 2) Regulations 2024 were laid on October 9, 2024. These amendments will have effect for the tax year 2024/25 and subsequent tax years. The regulations correct previous drafting errors and make a number of changes primarily affecting savers with former LTA protections and those individuals who plan to transfer their pension savings to a qualifying recognised overseas pension scheme (QROPS).
HMRC’s Pension schemes newsletter no 158 sets out in detail the proposed changes and provides guidance on how schemes should operate during the interim period before the regulations come into force on November 18, 2024.
HMRC’s most recent Pension schemes newsletter no 163 sets out an explanation of how both the No.2 and No.3 regulations (outlined above) work.
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African nations need to present a united front at COP29 to ensure their voices are heard
Africa faces a stark reality: contributing less than 4% of global greenhouse gas emissions, the continent is disproportionately impacted by climate change, threatening its development and stability.
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The GCR Guide to Life Sciences – Merger control: Procedural issues
Miranda Cole, Julien Haverals and Emma Clarke of our Brussels/ London offices are the authors of a chapter on procedural issues in merger control that has been published in the third edition of the Global Competition Review’s The Guide to Life Sciences. This covers a number of significant procedural developments that have affected merger review of life sciences transactions.
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