
Publication
International Restructuring Newswire
Welcome to the Q2 2025 edition of the Norton Rose Fulbright International Restructuring Newswire.
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.
Publication
Welcome to the Q2 2025 edition of the Norton Rose Fulbright International Restructuring Newswire.
Publication
In the current geopolitical climate, with the imposition of tariffs and associated macroeconomic uncertainty, publicly traded companies across sectors will need to consider the potential impact on their business in the context of their ongoing disclosure obligations.
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In July 2022 the UK Secondary Capital Raising Review published its report (Report) setting out a series of bold and wide-ranging recommendations for improving the secondary capital raising regime in the UK designed to make it quicker, more flexible, more inclusive of retail investors and more cost-effective, as well as moving towards digitisation and making better use of technology.
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