Publication
Blue Bonds: Making a splash in the Capital Markets
In 2018, the Republic of Seychelles launched the first-ever “blue bond”, with the support of the World Bank Group and the Global Environment Facility.
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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Recent publications
Publication
Marine Money Week New York 2025
We are delighted to be participating in Marine Money Week New York 2025. 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.
Publication
The parallel imposition requirement in exclusive distribution systems: key takeaways from the CJEU’s ruling in Beevers Kaas
On 8 May 2025, the Court of Justice of the European Union (the CJEU) delivered its ruling in case C-581/23 (the Ruling), providing guidance on one of the conditions for an exclusive distribution agreement to benefit from the block exemption under Article 4(b)(i) of the 2010 Vertical Block Exemption Regulation (the VBER)1, notably the so-called ‘parallel imposition requirement’.
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