Mishcon de Reya LLP

The Government has unveiled its Autumn Budget, introducing a series of tax reforms and measures aimed at addressing the UK's financial challenges. Our experts have provided a detailed analysis and summary of the key changes: • Non-dom taxation reform: Significant changes to the taxation of non-UK domiciled individuals, including the abolition of the remittance basis • Inheritance tax reforms: Introduction of caps on agricultural and business property reliefs, impacting inheritance tax planning • Capital gains tax adjustments: Increases in the main rates of capital gains tax and revisions to reliefs • Carried interest taxation: Shift from capital gains tax to income tax for carried interest, with specific conditions • SDLT rate hike: Increased stamp duty land tax rates for additional dwellings and certain company acquisitions • NIC changes for employers: Changes to national insurance contributions for employers, including rate increases and threshold adjustments • Mandatory payrolling of benefits: New requirements for employers to payroll all benefits in kind from April 2026 • Employee share plans: The impact of tax changes on the taxation of awards under employee share plans • EOT and EBT reforms: Reforms to employee ownership trust and employee benefit trust rules • VAT on private school fees: Application of standard rate VAT to private school fees from January 2025 • Corporation tax roadmap: Confirmation of the corporation tax rate and continuation of investment incentives • International corporate tax consultations: Plans for consultations on transfer pricing and anti-avoidance measures For a comprehensive understanding of how these developments may affect you or your business, read our full analysis. Authors: Hannah Dart, Idina Glyn, Sabrina Sears TEP, Christopher Eames, John Skoulding, Ceinwen Hayes, Liz Hunter, Anil Arora and Nicola Simmons. https://lnkd.in/e8APBZXS

Join us for our upcoming three-part event 'Mastering Employee Incentive Arrangements: Strategies, Taxation and Practical Perspectives' on Thursday 7 November 2024. Session 1: Employee Incentive Arrangements - Rationale & Trends. Discover the driving forces behind employee share plans with Stephen Diosi (Mishcon de Reya), Krissandi Lee (Willis Towers Watson), and Jon Cartmell (CSC Global). Learn about global market trends, the foundations of Executive Compensation, and innovative incentive practices. Session 2: Tax issues to consider in implementing employee incentive arrangements. Vincent Sim and Theodore Tan from Mishcon de Reya will provide invaluable insights into the tax considerations and implications of employee incentive arrangements in Singapore and for US persons. Session 3: The impact of incentive arrangements on start-ups and growth companies: Perspectives from venture capitalists and founders. A panel discussion on how incentive arrangements impact start-ups and growth companies, featuring perspectives from industry leaders and founders. Moderated by Si Wei Chua (Mishcon de Reya), with panellists Jeffrey Seah Seah (MSW Ventures), Nathanael Lim (Avium), Qin En Looi (Saison Capital), and Sam Lee Chengyi (Paloe). We look forward to welcoming you to what promises to be an engaging and informative event. Please register using the link: https://lnkd.in/erE-sFFf

Guy Wilkes and Cerys Tucker have detailed the Financial Conduct Authority's (FCA) recent action against Volkswagen Finance (VWFS), resulting in a £5.4 million fine for the firm's treatment of customers in financial difficulty. The FCA's investigation highlighted VWFS's failure to fairly treat customers, communicate clearly, and manage risks effectively. The penalty underscores the importance for firms to actively engage with regulatory developments and enforcement trends. For the full analysis of the FCA's findings, read the article below. https://lnkd.in/eQhUJJj5

Our new Data Protection Impact Assessment Checklist is now available! Protecting personal data is essential in the digital age. We've developed a detailed checklist to assist you with the Data Protection Impact Assessment process. With it, you can: • Identify data protection risks early on • Ensure compliance with the UK GDPR • Adopt best practices in your data processing activities Our DPIA Checklist is a valuable resource for anyone starting a new project or updating an existing one, helping you to manage data protection effectively. Download today: https://lnkd.in/e_285yzV

There are only a few hours to go until the new Government's budget is revealed. For insightful and personalised advice for you and your business visit our website: https://lnkd.in/eZnwE2TT

Listen to the latest episode of Susan Freeman 🎤🎧's real estate podcast here, featuring Lynda Shillaw of Harworth Group plc – one of the UK's leading land and property regeneration companies: https://lnkd.in/eeiM2G8n

This morning, the Managing Associates and Associates from our Real Estate department hosted the firm's annual Real Connections breakfast seminar to a room full of industry clients and contacts. Our experts presented on their areas of expertise and answered questions from the audience. Topics included: - JCTs - The Building Safety Act - National Planning Policy Framework - Tax: Post-election changes Alex Barker, Charles Jordan, Charlotte Braine, Daniel Bharier, Isabel Emerson-Lich, Jade Duggan (née Pilling), Julien Amoruso, Michael Clarke, Michael Condlyffe, Rebecca Gough, Roisin Hogan.

The Government's first budget tomorrow will have a lot to work through. For insightful, personalised advice for you and your business, visit our website: https://lnkd.in/eZnwE2TT

Mishcon de Reya's Rebecca Murphy and Guy Wilkes have written an analysis of the recent £29 million fine imposed on Starling Bank by the FCA. Their piece examines the bank's challenges in maintaining robust anti-money laundering and sanctions systems following rapid growth. It also discusses the broader implications for digital challenger banks and e-money firms and highlights the FCA's commitment to more timely enforcement actions. Read here: https://lnkd.in/eadcUhuy

Join us at Mishcon de Reya in Singapore on Friday, 8 November, from 12:00 to 13:30 SGT, for a critical analysis of the UK Budget and US Election results. We will discuss their implications for UK-US relations and the potential impact on our clients. Register to attend here: https://lnkd.in/e9R8DHKn