Once the formal procedure under Article 50 of the Lisbon Treaty is initiated by the United Kingdom, the government will negotiate the terms of its exit from the European Union. Whilst we must accept that this is a period of dynamic change, we can forecast that the Brexit-related UK tax changes will fall into two main categories. First, there will be changes that necessarily and directly flow from the constitutional and legal changes under Brexit. Second, some tax changes may be more indirect, being inspired by the perceived need for the government to respond to economic uncertainty arising from Brexit by making the UK more tax competitive. This advisory summarises some of the broad areas of tax changes post-Brexit.
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