Brexit

Insight / Brexit worries force CFOs to curb UK investment

The UK’s top CFO’s are implementing risk aversion strategies in the face of continued Brexit uncertainty over the year ahead, with  almost all believing that the prospect of widely unanticipated surprise events is a rapidly growing concern for their company, a poll of senior finance executives has found

Insight / Warning of Brexit director brain drain

BDO is warning of a potential brain drain in the UK economy if the government does not make a concerted effort to retain and attract European business leaders post-Brexit, after its research found more than 40,000 board-level directors of UK businesses are citizens of EU27 countries

Insight / Economic trends: jobs growth hides productivity collapse

Despite Brexit uncertainty, the UK economy continues to grow, creating record levels of employment and no let-up in consumer spending, but poor productivity could lead to an economic hangover, argues George Buckley, chief UK economist at Nomura

Insight / Brexit worries weigh on CFOs

As the Easter recess brings a temporary halt to parliamentary discussion about the UK’s plans for leaving the EU, long term levels of concern about Brexit among CFOs has hit an all-time high

Tax / Deadline for export grants for Brexit preparation extended

The Treasury and HMRC have extended the deadline to end May for applications for an £8m government funding grant for customs and export related training due to ongoing Brexit uncertainty and low take-up

Insight / Brexit for accountants: what we know so far

A roundup of Brexit legislation, guidance and statutory instruments including no deal Brexit advice for auditors and accountants, HMRC and BEIS extend post Brexit guidance for SMEs, lost limited liability status and import duties to be slashed in the event of a no deal

Insight / Uncertainty drives need for resilient finance teams

The challenges facing UK businesses in the next five years, including the ongoing uncertainty over Brexit, have heightened the need for employee resilience, according to research from recruitment specialist Robert Half UK

Insight / HMRC updates ‘no deal’ EU trading advice

As Brexit negotiations continue to be poised on a knife-edge, HMRC has announced it is extending arrangements already announced for traders to use transitional simplified procedures (TSP) designed to make importing easier, in the event of the UK leaving the EU without a withdrawal agreement on the new date of 12 April

Insight / European Council adopts contingency measures for no deal Brexit

The European Council has adopted a series of legislative acts as part of its contingency planning for a no-deal Brexit scenario

Tax / HMRC and BEIS extend post Brexit guidance for SMEs

The Department for Business, Energy and Industrial Strategy (BEIS) has published a leaflet for SMEs, outlining changes that may affect the business when the UK leaves the EU, with advice on actions to take and sources of support

Tax / Hong Kong leapfrogs UK for offshore company registrations

Hong Kong has toppled the UK as the top international financial centre (IFC) for global corporate services, while the trend towards moving business to onshore and mid-shore jurisdictions continues to increase, according to research by Vistra

Insight / BEIS to hold webinar on accounting and audit requirements post-Brexit

The Business, Energy and Industrial Strategy (BEIS) is to hold a webinar on Tuesday 19 March at midday informing businesses of accounting and audit changes and how to operate legally in the EU in the event of a no deal Brexit

Insight / Economic trends: policymakers start to grasp gloomier outlook

The UK economic outlook has darkened with risks shifting increasingly to the downside. Importantly, Brexit uncertainty plays an important part in this, but is by no means the only factor, says Chris Williamson, chief business economist at IHS Markit

Tax / Perfect VAT storm is coming, that’s a certainty post-Brexit

Ongoing Brexit negotiations continue to generate uncertainty, but what is clear is that UK businesses are heading towards a perfect VAT storm when Making Tax Digital and Brexit VAT changes collide, warns Ian Carpenter, partner and head of indirect tax at RSM

Insight / Six-month extension to customs authorisation holder changes

HMRC has confirmed a six-month extension to the implementation date of the change on indirect representation for some customs authorisations’ holders
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