In the wake of the Brexit result, Accordance was approached to provide a commentary about what could happen to EU VAT the UK’s shock vote to leave the union.

Nicholas Hallam has written ‘Goodbye to all VAT? EU Indirect tax after Brexit’,  which looks at the likely consequences for VAT in a post-Brexit Britain, including why the tax is unlikely to be done away with.

He also examines potential time frames (knowledge he collected at the recent International VAT Association conference in Vienna), potential issues, and how the UK’s lack of input into the EU Commissions plans going forward could affect UK businesses.

More fundamental is the issue is of the UK’s influence on future EU tax policy. It was a shock to hear Jonathan Heath, head of HMRC’s VAT central liaison office (the section that works with other member states), say last month that he expected the UK to cease to participate in European VAT discussions immediately should the UK vote to leave the EU: influence on future reform would be gone.

Read the article in full here.

This story has also been featured in Global Banking & Finance Review, and Finance Digest.

By |July 1st, 2016|