The tax impacts of Brexit

Zoe Hawes reviews the tax impacts of Brexit and asks how businesses can prepare for the imminent changes

Following the UK general election in December, the Brexit questi on facing businesses is no longer one of whether the UK will leave the EU, but what form the future relationship between the UK and the EU will take.

At the time of writing, the Withdrawal Agreement and Political Declarati on are expected to be ratified by the UK and the EU imminently. The transition period will then commence from 1 February 2020. During the transition period, EU law continues to apply in and to the UK as if it were a member state. Therefore, UK/EU operations will – for the most part – continue as now.