![Digital concept of data flow](https://www.nortonrosefulbright.com/-/media/images/nrf/hero/digital-concept-flow-lights.jpg?w=265&revision=2bcb14f7-5897-4d72-b329-f54ecf1859a8&revision=5250201361707387904&hash=1DBB7BD88F7D40EFEAB403B51B115D8F)
Publication
Generative AI: A global guide to key IP considerations
Artificial intelligence (AI) raises many intellectual property (IP) issues.
United Kingdom | Publication | April 2023
The Association of Consulting Actuaries has published information providing an update from HMRC on death benefits following the changes announced in the Budget.
Where previously subject to a 55 per cent tax charge above the LTA, the following payments will now be taxed at the recipient’s marginal rate of income tax:
The information from HMRC states: “… schemes may continue to use the current process for taxation of various death benefits.” Where a late member’s legal personal representative identifies a chargeable amount after payment of a DBLSDB or UFLSDB, they must report this to HMRC. It is HMRC that then assesses the tax due and HMRC will then raise marginal rate taxation (as opposed to an LTA charge) on the applicable portion of these payments. “HMRC will approach affected beneficiaries following the end of the tax year in line with the existing process but with the marginal rate charge instead of the LTA charge. This process will continue until HMRC develops a longer-term position for the full abolition of the LTA from April 6, 2024.”
Further information will continue to be provided in LTA-specific pension scheme newsletters.
Publication
Artificial intelligence (AI) raises many intellectual property (IP) issues.
Publication
The UK remains a world leader in offshore wind, accounting for roughly 20 percent of global offshore wind capacity, with 11.3 GW operational. It is forecast that installed capacity will rise to 19.5 GW by mid 2020s.
Publication
On 21 May 2024, the European Council (or Council) adopted the so-called ‘Hydrogen and decarbonised gas market package’ (the Gas Package). The package contains a recast of the 715/2009 gas regulation (Gas Regulation) and a recast of the 2009/73 gas directive (Gas Directive) aimed at reforming the existing EU regulatory framework to support the deployment of renewable and low-carbon gases, in particular hydrogen. As such, it represents a major development in the EU gas market.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023