In the Spring Budget, the chancellor announced significant changes to pensions taxation, not least the abolition of the lifetime allowance. Mike J Haynes (Andersen) identifies the opportunities and the risks in the new regime.
The Court of Appeal has found decisively for HMRC in Centrica Overseas Holdings Ltd on the basis of the statutory disallowance for management expenses of a capital nature. Benjamin Wonnacott (Ropes & Gray) reviews the judgment and its implications.
James Burton, Naomi Lawton & Sorsha Reilly (Allen & Overy) provide a practical Q&A on the workings of the new regime that is designed to offer significant benefits to attract a wide range of investors and holding structures.
The government’s initial conclusions from its recent response document leave Mark Stapleton and Nicolas Kokkinos (Dechert) doubtful as to whether the stated aim of the review – to make the UK an attractive location for asset managers – will be achieved.
Tax relief for employer pension contributions is often presumed to be available. Emma Game (Slaughter and May) reviews the basic deductibility requirements relating to registered and non-registered schemes.