UK pension schemes investing in US companies could face a 30% tax if a proposed US withholding tax is implemented, Hogan Lovells warns.
The law firm said new US laws aimed at targeting offshore tax evasion by US citizens - the Foreign Account Tax Compliance Act provisions - introduce a withholding tax of 30% on payments such as dividends...
This week's edition of Professional Pensions is out now.
Laytons partner Jennie Kreser speaks of her concerns over pension outcomes.
Guy Opperman has indicated his support for a fresh pensions commission as the government seeks to understand how to progress pensions policy in a wide range of areas.
Auto-enrolment (AE) minimum contribution rates could rise to 12% by 2030, with a 50/50 split between employer and employee, the Pensions and Lifetime Savings Association (PLSA) says.