Post-Brexit Tax Implications

Quite unsurprisingly, the Brexit implications have been widespread across the U.K. In an act to attract businesses and address certain challenges, tax-related developments are taking shape.

The Post-Brexit Tax Implications report explores nuances of the EU-U.K. Trade Cooperation Agreement and the tax ramifications multinational corporations and their advisers should consider, including:

Potential tax measures to attract asset management firms and investors

• Real estate investment trusts (REITS) rules
• Tax treatment of mixed asset funds
• Value-added taxes (VAT) and application
• Exemptions and impact on tax treaty benefits

Export and import challenges

• Access to transit documents
• Shortage of agents and guarantees
• Delays at Her Majesty’s Revenue and Customs

Tax rules and relevant agreements

• U.K.-EU trade difficulties
• E-commerce companies and “geo-blocking” sales
• DAC-6 departure and adoption of OECD’s disclosure rules

Implications for U.K. lawyers and accountants

• Auditor status
• Guarantees for lawyers