Brexit Updates

Brexit Updates

10 October 2018

We have published a blog on the implications of Brexit on the right to reclaim VAT on costs associated with businesses operating in the financial service and insurance sector.  The blog considers the various possible scenarios and the impact on these sectors.

8 October 2018

The Chartered Institute of Taxation (CIOT) and the ICAEW have issued the first in what is hoped to a be a series of fact-sheets on the impact of the UK’s withdrawal from The European Union. The main purpose of this particular fact-sheet is to outline the purpose and effect of The Taxation (Cross-border Trade) Act 2018, which received Royal Assent on 13 September 2018.

13 September 2018

The Taxation (Cross-border Trade) Act 2018 received Royal Assent on 13 September. The purpose of the Act is to allow the government to create a standalone customs regime when the UK leaves the EU and provide for amendment of existing VAT and excise legislation.

23 August 2018

HMRC has stated that a scenario in which the UK leaves the EU without agreement (a ‘no deal’ scenario) remains unlikely given the mutual interests of the UK and the EU in securing a negotiated outcome. however, it has issued some guidance to enable taxpayers to prepare for a ‘no deal scenario’.

Trading with the EU if there is no Brexit deal

VAT for businesses if there is no Brexit deal