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Permanent establishment: Back to basics

This session covers corporate tax permanent establishments. The session addresses the relevance of the concept, the tests for a fixed place of business PE and dependent agent PE and practical points including the impact of home working.  The session also covers the diverted profits tax concept of an avoided PE.

COP27 and climate finance: Bridging the gap

With COP27 starting earlier this week, all eyes remain on what progress governments and international organisations are able to make to meet climate critical finance targets. Climate finance is a major issue at COP27, as it has been since developed countries initially agreed to mobilise $100 billion per year at COP15 in 2009 by 2020 (later extended to 2025). However, this annual target has never been met.

Disapplication of pre-emption rights: Back to the future

On 4 November 2022, the Pre-Emption Group published a revised Statement of Principles for the disapplication of pre-emption rights (the "Statement"), together with new template resolutions. The Statement, which has been updated for the first time since 2015, has immediate effect in line with the recommendations of the UK Secondary Capital Raising Review (the "Recommendations") published in July.

Liability-driven investment (LDI) – Reflections on the mini-budget and the road ahead

The rise in gilt yields following Kwasi Kwarteng's "mini-budget" announced on 23 September 2022 led to the Bank of England stepping in to stabilise the market - primarily to protect UK defined benefit (DB) pension schemes from the impact of the volatility which arose immediately afterwards. Here we outline what happened and some of the potential longer-term impact for schemes pursuing liability-driven investment (LDI) strategies.

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