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1 month ago | 
lexology.com | Margarida Ferreira |Damien Crossley |Peter Chapman
Private credit has seen a rapid increase in assets under management (AUM) over the past decade, with AUM currently surpassing $1.6tn. Just as the…
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1 month ago | 
mondaq.com | Damien Crossley |Pete Chapman
Private credit has seen a rapid increase in assets undermanagement (AUM) over the past decade, with AUM currentlysurpassing $1.6tn. Just as the prior growth in primary privateequity AUM gave rise to a significant private equity secondariesmarket, the growth in private credit AUM over recent years is nowproducing a material private credit secondariesmarket.
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Aug 28, 2024 | 
mondaq.com | Damien Crossley
Following HM Treasury launching a "call for
evidence" on reforming the taxation of carried interest a few
weeks ago, we published a document outlining the current UK regime and
international comparators, and examining the possible options for
reform.
While the call for evidence is focused on the design of the
future UK carried interest rules, we believe the interaction of
those rules with the taxation of inpatriates is equally important.
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Aug 26, 2024 | 
lexology.com | Damien Crossley |James McCredie |Sophie Donnithorne-Tait |Alicia Thomas |Joe Robinson |Mark Baldwin | +2 more
Reforming carried interestmacfarlanes.com 2 IntroductionPrivate capital is of significant and growing importance to the UK, both as a source of vital investment for UK projects but also as an industry that is itself a key component of the UK's financial services sector. Currently, London is second only to New York as the world's leading private capital hub.
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Jun 13, 2024 | 
mondaq.com | Damien Crossley |Peter Chapman |Sophie Donnithorne-Tait
Tax distribution provisions were originally designed to help
individual carried interest holders manage tax liabilities that
arise by reference to their holding of carried interest but before
their receipt of distributions. The issue is particularly relevant
for US taxpaying carry holders due to the accrual basis of taxation
for carried interest in the US, contrasting with the distribution
basis prevalent in other jurisdictions.
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Sep 20, 2023 | 
taxjournal.com | Heather Self |Damien Crossley |Tom Wallace |Johan Barros
The Registered Pension Schemes (Authorised Member Payments) Regulations, SI 2023/1012 deal with the effects of write-down orders on insurance policy holders, including those holding a pensions annuity.
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Sep 20, 2023 | 
taxjournal.com | Heather Self |Damien Crossley |Tom Wallace |Johan Barros
Welsh taxes bring in £400m © Copyright LexisNexis 2023. All rights reserved. 21 September 2023 The Welsh Revenue Authority (WRA) raised £414m from the devolved taxes in Wales in 2022–23, slightly down on the previous year (£448m). The WRA Annual Report and Accounts show receipts from land transaction tax fell to £372m (from £402m) and landfill disposals tax to £42m (from £45m).
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Sep 20, 2023 | 
taxjournal.com | Heather Self |Damien Crossley |Tom Wallace |Johan Barros
A CIOT survey across July and August 2023 has found that poor HMRC service levels are making it harder to do business. The survey received responses from 651 agents and 98 HMRC ‘customers’ (some busineses and some individual taxpayers).
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Sep 20, 2023 | -act-2023&sz=64)
taxjournal.com | Heather Self |Damien Crossley |Tom Wallace |Johan Barros
Home >Articles > Pensions (Extension of Automatic Enrolment) Act 2023
Pensions (Extension of Automatic Enrolment) Act 2023
21 September 2023
The Pensions (Extension of Automatic Enrolment) Act 2023 received Royal Assent on 18 September 2023. The Act introduces powers to reduce the age of automatic enrolment and remove the lower earnings limit. The DWP is to launch a consultation on the implementation of these new measures.
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Sep 20, 2023 | 
taxjournal.com | Damien Crossley |Johan Barros |Heather Self |Peter Vaines
Stamp taxes on sharesHMRC has launched a technical consultation on New draft legislation to remove the 1.5% charge in domestic legislation on the issue of UK securities into depositary receipt systems and clearance services and on certain related transfers. Currently UK legislation technically imposes a 1.5% charge on issue and capital-raising transfers but the charge was found to be incompatible with the EU Capital Duties Directive and could not be enforced (or collected) by HMRC.
