Publication
Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
United Kingdom | Publication | avril 2024
The lifetime allowance was abolished with effect from April 6, 2024. HMRC has published two newsletters on the topic, and also confirms that further minor technical changes are to be made in additional regulations later this year.
HMRC’s newsletter 157, published on March 28, 2024, sets out HMRC's responses to 39 frequently asked questions on the LTA abolition. They deal particularly with issues relating to retirements around April 6, 2024, and the transitional certificates for those members’ tax-free amounts.
Newsletter 158, published on April 4, 2024, highlights some key issues about the impact of the regulations that became effective from April 6, 2024. Further regulations will make minor changes, backdated to April 6, so schemes should ensure that members are aware that they may need to wait until these are effective before taking or transferring certain benefits, as their tax position could change.
The main instances for delay in proceeding include:
HMRC has begun the process of updating its online tax manual to reflect the LTA abolition and the new allowances. It has also updated its guidance for scheme administrators.
Publication
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Publication
Artificial intelligence (AI) raises many intellectual property (IP) issues.
Publication
We are delighted to announce that Al Hounsell, Director of Strategic Innovation & Legal Design based in our Toronto office, has been named 'Innovative Leader of the Year' at the International Legal Technology Association (ILTA) Awards.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023