Brexit: The Consequences for International Tax Planning

By on August 19, 2016

Just over a month has now passed since the referendum in which the United Kingdom voted narrowly to leave the European Union: an event which some have characterized as the greatest potential shock to the UK economy since the Second World War. For most multinational groups considering the potential consequences of Brexit on their tax position, however, the best advice is probably the same as that provided by the famous wartime poster: “Keep Calm and Carry On.”

While much remains to be resolved about the United Kingdom’s exit from the European Union, what has become clear is that it will not happen quickly. The Government has stated that it will not serve formal notice of its intention to leave the European Union before the New Year, which will start a period of negotiation that, under the European Union Treaty, is anticipated to take two years. The United Kingdom is thus likely to remain an EU member state until at least 2019.

Brexit will almost certainly result in some changes to the United Kingdom’s tax landscape, and these may well cause complications for some multinationals.

Read the full article here.

James Ross
  James Ross advises clients on a broad range of international and domestic corporate/commercial tax issues, including corporate restructuring, transfer pricing and thin capitalisation, double tax treaty issues, corporate and structured finance projects, mergers and acquisitions, and management buyouts. He counsels US groups in the structuring of UK and European inbound investments, including in relation to redomiciliations and providing advice on technical issues in the context of revenue investigations and statutory audits. He is particularly adept at advising on intellectual property holding structures. Read James Ross' full bio.

STAY CONNECTED

TOPICS

ARCHIVES