On 23 June 2016, the UK voted to leave the European Union. The immediate reaction across the UK and Europe, and indeed globally, has been one of shock as few predicted such a result.
Since the referendum, there has been major political upheaval, financial markets have been volatile and GBP has sunk against both the USD and EUR. But what are the longer term implications of the Brexit vote for international business?
The general message at this stage is that there is no need to rush any decisions, as the timetable for Brexit is likely to be long and drawn out. Tax changes will be limited in the interim, but any acquisitions or new cross-border structures need to have flexibility built in to cope with the range of possible outcomes.
Over the coming months, Taxand will be sharing insights on the likely implications of Brexit as it develops.
Access Taxand’s Brexit material: