Darren Oswick and Gary Barnett (Simmons & Simmons) consider some of the tax implications that may result from the inevitable wave of business restructurings which will follow the Brexit vote.
The exit of the UK from the European Union will have very direct implications for many parts of the UK’s tax code. Customs duties and VAT are in effect EU taxes; and many other parts of our tax rules are directly impacted by various EU Directives and the fundamental freedoms. However quite apart from the direct implications for UK taxation Brexit will most likely result in a great deal of business restructuring which will in itself give rise to significant tax implications.
In particular membership of the EU provides a ‘passport’ to carry on certain regulated business within other EU member states in a range of industries....
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Darren Oswick and Gary Barnett (Simmons & Simmons) consider some of the tax implications that may result from the inevitable wave of business restructurings which will follow the Brexit vote.
The exit of the UK from the European Union will have very direct implications for many parts of the UK’s tax code. Customs duties and VAT are in effect EU taxes; and many other parts of our tax rules are directly impacted by various EU Directives and the fundamental freedoms. However quite apart from the direct implications for UK taxation Brexit will most likely result in a great deal of business restructuring which will in itself give rise to significant tax implications.
In particular membership of the EU provides a ‘passport’ to carry on certain regulated business within other EU member states in a range of industries....
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
