Brexit

Tax / £16m ‘Brexit boost’ to fund thousands more customs agents

Government sets aside more funding to help businesses train staff to handle customs regulations after the UK leaves the EU, but business urged to apply early before funds run out

Tax / Pre-Brexit spending round scheduled for 4 September

The Chancellor will present details of the spending round to parliament next week, earlier than expected, setting out departmental day-to-day spending to cover the Brexit period

Insight / What you need to know: EU workers and settled status

As the possibility of a no-deal Brexit nears, it becomes more important for EU workers to be aware of the requirement to apply for settled status to allow them to continue to work in the UK after 2020. Kate Palmer, associate director of advisory at Peninsula, sets out five key considerations for employers

Tax / Auto enrolment for post-Brexit EU customs system

HMRC is to automatically enrol over 145,000 VAT-registered UK companies into the economic operator registration and identification (EORI) customs system to reduce the risk of Brexit disruption to trade

Tax / Brexit pressure forces one-year spending review

There will be a fast-tracked one-year spending review to ensure departments can focus on delivering Brexit by 31 October, the Chancellor has confirmed, as the normal three-year spending review is delayed

Insight / Financial services sector plans for no-deal relocations

Only 12% of financial services firms expect the UK will leave the EU with a deal agreed by the October deadline, while 42% say they will transfer UK business to a global centre outside the EU immediately if there is a no-deal exit, according to EY research

Insight / No-deal Brexit impact on mergers and anti-competition activity

The Department for Business, Energy and Industrial Strategy (BEIS) has published guidance on how merger reviews and investigations into anti-competitive activity would be affected in the event of a no deal Brexit later this year

Tax / Post-Brexit trade policy will introduce UK freeports

The government is looking at setting up a string of freeports around the UK providing duty-free trade zones with tax and customs duty advantages

Insight / 12% rise in government spend on Big Four consultancy

The Big Four accountancy firms signed £307m worth of contracts for new government consultancy projects in 2018, with PwC  taking the largest slice

Insight / CBI urges government to engage with business over no-deal Brexit

The CBI says the government is failing to communicate with business over the likely negative consequences of a no-deal Brexit

Tax / Sajid Javid replaces Philip Hammond as Chancellor

Boris Johnson has named Sajid Javid as Chancellor of the Exchequer in one of his first top ministerial appointments as prime minister, with Rishi Sunak as number two at the Treasury    

Tax / Accountants and law firms pay £19.1bn in taxes

The UK’s accountancy and legal firms paid £19.1bn in taxes in 2018, a 6.8% rise in their total tax contribution compared to two years ago, according to a report from TheCityUK

Insight / Quarterly company insolvencies fall in Q2

Despite a number of high profile insolvencies hitting the headlines, the number of companies entering administration in England and Wales fell during the second quarter of this year

Insight / OBR warns of breakdown in fiscal discipline, recession risk

The Office for Budget Responsibility (OBR) has warned that a no-deal Brexit could see public borrowing doubling to some £60m next year, with the risk of recession increasing sharply

Insight / CFO concerns over Brexit outcome deepens

Brexit uncertainties and concerns about developments in geopolitics mean CFOs at the UK’s largest companies are battening down the hatches
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