Insight / UK economy facing ‘prolonged’ disruption

The UK is facing a prolonged period of disruption to economic activity as the country tackles the twin challenges of the Covid-19 crisis and leaving the EU single market, an OECD report warns

Insight / Audit firms ‘overlooked’ in Brexit trade negotiations

The UK’s professional and business services sector, including accountancy and audit firms, is at risk because of the government’s failure to nail down future UK-EU arrangements on trade in services, a House of Lords committee has warned

Insight / Business urged to prepare for Brexit

With less than 100 days to go before the UK leaves the EU, a poll by EY has found only one in nine businesses have a good understanding of the risks of not being prepared, while the business secretary is writing to 600,000 companies urging them to action

Insight / Freeports to go ahead in 2021

The government is to go ahead with plans to create new Freeports across the UK, offering simplified customs arrangements and a package of tax reliefs for business, in order to boost post-Brexit trade

Insight / Covid hits Brexit business planning

With just three months to go until the end of the Brexit transition period, financial services firms have moved over £1 trillion of assets and continue to switch jobs out of the UK, despite the pandemic restrictions, research from EY shows

Tax / Northern Ireland Trade Support Service goes live

The government is urging businesses to sign up to the new free-to-use Trader Support Service with fewer than 100 days until end of Transition period

Tax / EU travel business VAT scheme fuels Brexit uncertainty

With the 31 December Brexit leaving date fast approaching, UK travel operators facing a complex and uncertainty future under the TOMS scheme, including the possibility of registering in all 27 remaining EU states says Sovos Accordance’s Alex Smith

Tax / VAT refunds to overseas shoppers to go post-Brexit

The Treasury has signalled the government will end VAT refunds on purchases made by overseas visitors on 31 December, when the UK leaves the EU, despite claims from the travel and luxury goods sector that this will harm tourism

Tax / VAT-registered businesses urged to prepare for Brexit trading changes

HMRC has written to all VAT-registered businesses in Great Britain trading with the EU and/or the rest of the world, highlighting what they need to do to prepare for the UK’s exit from the EU at the end of this year

Insight / ‘Brexit ready’ campaign launches

With under six months to go until the UK leaves the EU, the government has announced a major new public information campaign for businesses, while research from the Institute of Directors (IoD) indicates only a quarter are fully ready for the end of the Brexit transition period

Insight / Treasury details post-Brexit financial services regulation

The Treasury has set out details of how the UK will regulate the financial services sector following its exit from the EU, with reforms planned to take effect following the end of the transition period at the close of the year

Tax / Delay to EU’s e-commerce directive raises questions for UK business

Plans to push back directive and VAT one stop shop by six months raise concerns if Brexit transition period ends on 31 December, but create opportunity to plan ahead, argues Andy Spencer, professional services director at Accordance

Tax / Food and drink industry face Brexit VAT bill

Now that the UK is in the transition period after leaving the EU, Accordance’s VAT consultant Russell Hughes unpicks the menu of obstacles facing the food and drink sector trading across borders, keeping friction down and wastage low

Insight / ‘Virtual’ Brexit negotiations recommence

This week sees the UK resume stalled negotiations with the EU over the terms of its withdrawal, including critical trade deals, which are scheduled to be completed by the end of the year, with the tight timetable raising fears of a potential ‘hard Brexit’

Tax / Covid-19: EU sketches out plans for ‘massive recovery package’

The European Parliament has approved what MEPs termed ‘a massive recovery and reconstruction’ package to tackle the coronavirus pandemic, including ‘recovery bonds’ guaranteed by the EU budget. Pat Sweet