Following the end of the UK tax year on 5 April 2024, annual Employment-Related Securities (ERS) returns may now be filed online with HMRC. All companies with open share plan registrations with HMRC are required to submit an annual return, even if it is a nil return (i.e., even if there has been no share plan activity during the 2023 to 2024 tax year). The deadline for submission for the 2023 to 2024 tax year is 6 July 2024.
On 6 March 2024, the current government (led by the Conservative Party) announced a number of significant changes to the way in which UK tax resident non-UK domiciled (RND) individuals will be taxed in future. These changes are expected to take effect from 6 April 2025. In this alert we provide a recap of the reforms announced by the current Conservative government, and an overview of the further changes that the Labour Party has said it will introduce if elected.
An employment tribunal has held that the University of Bristol’s decision to dismiss a professor based on comments he shared regarding his protected anti-Zionist beliefs was both an unfair dismissal and unlawful discrimination because of his protected belief.
A dismissal will be automatically unfair if the sole or principal reason for dismissal is that the employee took or sought to take parental leave. In Hilton Foods Solutions v. Wright, the EAT has decided that this protection does not require the employee to have made a formal request. Communications about taking parental leave might reach a stage that could be described as having sought to take the leave. This will be a question of fact for employment tribunals.
The Presidents of the Employment Tribunals (England & Wales and Scotland) have issued Presidential Guidance updating the Vento bands for damages for injury to feelings and psychiatric injury in discrimination claims.
The Parker Review Committee has published its latest report on ethnic minority representation at board level and within senior management at FTSE350 companies, and the 50 largest private companies in the UK. Ethnic minority directors currently represent 19% of FTSE 100 directors, 13.5% of FTSE 250 directors and 11% of relevant private company directors.
On 29 November 2023, the Energy Savings Opportunity Scheme (Amendment) Regulations 2023 (“Regulations”), came into force, implementing a number of changes to Phase 3 of the Energy Savings Opportunity Scheme which requires in scope organizations to undertake a mandatory energy assessment of their UK energy consumption. As a result of the changes introduced by the Regulations, participants are required to include more information in the Phase 3 notifications of compliance that they are required to submit to the Environment Agency to confirm that they have completed their energy assessment.
Following its February 2023 consultation and call for evidence on a future financial services regulatory regime for cryptoassets, HM Treasury issued its policy statement on the wider cryptoasset regulatory regime on 30 October 2023. The policy update was published alongside a flurry of publications on the regulation of cryptoasset services, including interlinked policy documents covering regulation of fiat-backed stablecoins and the failure of systemic digital settlement asset (DSA) firms. This briefing covers the so-called “Phase 2” regulation of wider cryptoasset activities.
Following its February 2023 consultation and call for evidence on a future financial services regulatory regime for cryptoassets, HM Treasury issued its policy statement on the wider cryptoasset regulatory regime on 30 October 2023. The policy update was published alongside a flurry of publications on the regulation of cryptoasset services, including interlinked policy documents covering regulation of fiat-backed stablecoins and the failure of systemic digital settlement asset (DSA) firms. This briefing covers the so-called “Phase 2” regulation of wider cryptoasset activities.
On 26 October 2023, the Energy Act 2023 became law. The Energy Act 2023 is a significant overhaul of the UK energy regulatory framework. It is aimed at supporting the development of the UK energy systems in line with the UK government’s current strategy, focusing on net-zero commitments and energy security.