The potential implications of Brexit have been widely discussed but, due to the different alternatives for the post-Brexit relationship between the UK and EU, there remains considerable uncertainty. The tax implications could be wide, encompassing a new customs duty landscape, potential changes to the UK VAT system and the future flexibility to make changes to the UK tax code previously prohibited by EU law. Equally, little may change in practice. The implications of remaining in the EU also need to be considered, as the EU moves towards greater tax harmonisation. If Brexit does occur, businesses should contribute to the debate to shape the post-Brexit environment.
The potential implications of Brexit have been widely discussed but, due to the different alternatives for the post-Brexit relationship between the UK and EU, there remains considerable uncertainty. The tax implications could be wide, encompassing a new customs duty landscape, potential changes to the UK VAT system and the future flexibility to make changes to the UK tax code previously prohibited by EU law. Equally, little may change in practice. The implications of remaining in the EU also need to be considered, as the EU moves towards greater tax harmonisation. If Brexit does occur, businesses should contribute to the debate to shape the post-Brexit environment.
The potential implications of Brexit have been widely discussed but, due to the different alternatives for the post-Brexit relationship between the UK and EU, there remains considerable uncertainty. The tax implications could be wide, encompassing a new customs duty landscape, potential changes to the UK VAT system and the future flexibility to make changes to the UK tax code previously prohibited by EU law. Equally, little may change in practice. The implications of remaining in the EU also need to be considered, as the EU moves towards greater tax harmonisation. If Brexit does occur, businesses should contribute to the debate to shape the post-Brexit environment.