From Travers Smith

Travers Smith's regular update on legal developments in pensions.

In this short video, Richard Offord, Katie Hindley and Jonathan Rush provide a 5 minute primer on key pricing issues in commercial contracts.  Topics covered include whether suppliers can raise prices unilaterally, how to deal with inflation, cost plus and open book pricing, audit clauses, "best price" or MFN obligations, price-matching clauses and benchmarking.

We started the series by looking at the approach of the previous UK government to the regulation of AI.  In "State of Play II", partners James Longster and Louisa Chambers from our Technology & Commercial Transactions department revisit the UK's regulatory outlook for AI following the election of the Labour Government.  They discuss Labour's change of approach, the UK's signature of the first international legally binding AI treaty, as well as plans for data protection reform and and the Government's ambition to address the impasse over the use of copyrighted materials for AI training.

In this episode, Partner James Longster in our Technology & Commercial Transactions team sits down with Senior Associate Laura Smyth in our Operational Risk & Environment team, to discuss the Corporate Governance implications of the new EU Artificial Intelligence Act. 

Together they explore key best practice and legal requirements for businesses, including the importance of dedicated AI governance committees, AI ethics and acceptable use policies, promoting training and leveraging upon existing corporate governance structures.

Consideration is also given to the AI Act's impacts on transparency, accountability and the promotion of human oversight of AI systems. They also discuss the AI Act's impact and approach in relation to the environment.

Listen to the introduction to What's Happening in Pensions - Issue 112.

In the seventh episode of this series, Senior Associate Aimee Hutchinson and Associate Claudia French from our Tax team shed light on some possible changes Labour may make to Real Estate taxes ahead of the forthcoming Autumn Budget. They discuss Labour's manifesto pledges, the future of the reserved investor fund and how other anticipated tax changes to CGT and carried interest will impact the real estate sector.  

In the sixth episode of this series, Nick White, Knowledge Counsel in our Pensions team, outlines some of the pensions tax options available to Chancellor of the Exchequer Rachel Reeves, as she prepares to deliver the new Government's first Budget.

In the fifth episode of this series, Senior Counsel Elissavet Grout, Senior Counsel Joseph Sheldrick and Associate Amy Broderick from our Tax team discuss the current inheritance tax rules and the potential changes that are anticipated in the forthcoming Autumn Budget.

In this episode, Tax Partner Hannah Manning, Knowledge Counsel Kulsoom Hadi and Trainee Solicitors Josh Channon and Amar Degon discuss the possible reforms to capital gains tax to be announced in the Autumn Budget on 30 October 2024. The team reviews speculation from recent commentary and delves into past budget announcements, as well as discussing comparisons with CGT rates in other countries.

In the third episode of series, Head of Tax, Russell Warren, Associate Ross McGregor and Trainee Nadia Ashbridge discuss the possible reforms to key business taxes including Corporation Tax, VAT and Employer NICs expected to be announced in the Autumn Budget on 30 October 2024. The team also consider Labour's manifesto pledge promising a Business Taxes Roadmap and what this might mean for businesses in the longer term.