Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Pillar definition

What does Pillar mean? In pensions practice, pillar describes one of the three components of the retirement income system used to structure advice, scheme design and regulatory analysis. It is a descriptive policy term, not defined in legislation or case law, but widely used across the UK and Ireland. First pillar: state-provided pensions and related social security. In the UK, this is the state pension (with means‑tested Pension Credit). In Ireland, it is the State Pension (Contributory/Non‑Contributory). These are pay‑as‑you‑go benefits funded by National Insurance/social insurance and general taxation. Second pillar: workplace (occupational) pensions sponsored by employers. In the UK, this includes trust‑based defined...

UK Digital Services Tax: administration, compliance and HMRC enforcement—responsible member, registration, returns, records, enquiries, assessments, penalties, group payment notices; transitional credit and prospective withdrawal amid OECD Pillar One uncertainty

Published by a LexisNexis Tax expert

Practice notes

FORTHCOMING CHANGE relating to the future withdrawal of DST :

Following oecd-led talks culminating in a political accord on the two-pillar solution in October 2021, the UK reached an arrangement with the US, Austria, France, Spain and Italy to move away from the DST towards the new global tax framework, using a transitional DST credit mechanism. Under this arrangement, the UK would retain all DST receipts until Pillar One becomes operational and, once Pillar One applies, companies could offset against future UK corporation tax the difference between DST paid from January 2022 and the amount that would have been due had Pillar One applied instead, as credit against their future UK corporation tax bill. In exchange, the US—regarding digital services taxes as discriminatory towards US businesses—agreed to withdraw proposed retaliatory tariffs on certain US imports from the other five countries, and pledged to refrain from further trade measures against them over their digital services taxes for the length of the interim period. This understanding was prolonged by all six countries to 30 June 2024, extended from its original expiry of 31 December 2023...

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Web page updated on 22/05/2026

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