The Freshfields Podcast

Freshfields

We are a global law firm with a long-standing track record of successfully supporting the world’s leading national and multinational corporations, financial institutions and governments on ground-breaking and business-critical mandates.

  1. 5d ago

    Tax Matters: Autumn Budget 2026 – Fiscal frights or boring Budget?

    The UK Chancellor of the Exchequer, John Healey, has delivered the Autumn Budget 2026, promising to provide “breathing space” amid “global economic storms”. With ‘military-style’ security protocols reportedly in place, there were far fewer pre-Budget leaks than in recent years.  Consequently, although some key revenue-raising measures announced were largely expected, including the increase in the rate of the corporation tax surcharge on banking companies and an extension of the obligation for online marketplaces to collect VAT, many others were not.  In the latter category, there is an unexpected revival of proposals to reform the UK sovereign immunity tax rules.  These announcements, combined with the large volume of new consultations launched and policy updates published, mean the Budget was not quite the boring event some had expected. In our latest podcast Paul Davison, Helen Buchanan, Peter Clements and Joe Williams from our London tax team discuss the business tax measures they found most eye-catching in the Autumn Budget 2026, including: headline tax revenue raising measures, including tax rises for the banking and gambling sectors, changes to the capital allowances regime (most significantly, a further reduction of writing down allowances for main rate expenditure) and increases in income tax rates on property and savings income; the launch of a consultation on a new sovereign tax status regime to be introduced from January 2029, principally designed to bring sovereigns’ returns from directly held UK real estate into the UK direct tax net for the first time; updates following the far-reaching consultation on modernising the tax treatment of distributions and capital repayments; various measures designed to improve tax collection and compliance, including confirmation of proposals requiring taxpayers to correct inaccurate tax returns and documents and the extension of the obligation on online marketplaces to collect VAT due on sales of goods by their customers; and  confirmation that the foreign permanent establishment exemption will become mandatory.

    Tax Matters: Autumn Budget 2026 – Fiscal frights or boring Budget?
  2. Oct 19

    Essential Antitrust #52: EU cartel enforcement – where are we? Taking stock now that there is a new Director Cartels

    EC fines in cartel cases jumped to approximately EUR 860 million in 2025, up from just EUR 50 million the year before, with four cases closed compared to only one in 2024. Yet the number of cases remains well below the levels of five or ten years ago, and not a single cartel case has been closed so far in 2026. At the same time, the European Commission is pursuing a growing pipeline of investigations across industries from flavours and fragrances to tyres, construction chemicals and farmed Atlantic salmon – driven increasingly by ex officio tools rather than traditional leniency applications, which have declined markedly over the past decade. The Commission is also sharpening its approach to algorithmic pricing and expanding the boundaries of Article 101, signalling that cartel conduct need no longer involve explicit communications between competitors. Against this backdrop, DG Competition has appointed a new Director for Cartels, Thomas Deisenhofer, who brings nearly 25 years of experience within DG COMP but, notably, a background in merger control rather than cartel enforcement. In this episode of the Essential Antitrust podcast, host Jenn Mellott is joined by fellow partners Tobias Klose and Dominic Divivier to take stock of where EU cartel enforcement stands today and what to expect under the new leadership. They discuss the latest enforcement statistics and what they signal about the trajectory of EC cartel cases, the rise of ex officio investigations powered by AI and digital intelligence, the growing focus on algorithmic pricing, and why companies should not let their dawn raid preparedness slip. They also explore emerging theories of harm under Article 101 – including how far the boundaries of what constitutes a cartel may be pushed – and what Deisenhofer's track record and reputation may tell us about the direction of travel.

    Essential Antitrust #52: EU cartel enforcement – where are we? Taking stock now that there is a new Director Cartels

Ratings & Reviews

4.6
out of 5
11 Ratings

About

We are a global law firm with a long-standing track record of successfully supporting the world’s leading national and multinational corporations, financial institutions and governments on ground-breaking and business-critical mandates.

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