Brexit continues to be a rapidly evolving situation with extremely disruptive implications for how businesses pay tax and develop tax strategies. Keeping track of rapid political developments is the relatively easy part. Although Brexit dominates the headlines now, it’s not unusual for businesses across the world to face constantly shifting political landscapes that make tax planning both essential and difficult. The lessons learned from Brexit are transferable and it is possible to develop resilience to withstand tax disruption on this scale.
Our recent webcast (see link in the attachment below) discussed how businesses could prepare for what’s ahead even when the endgame remains unclear. Given this, we’re continually updating the timeline of Brexit milestones, as well as our legal experts’ interpretation of what the latest developments mean.
Our key message is that it’s never too late to act. Although it’s tempting to take a ‘wait and see approach’ to planning when you’re caught in a fluid and fast-moving environment, that’s rarely the best option. Our Tax Function of the Future series aims to predict the challenges that tax functions may face today or in the future and offer solutions that mitigate the impact and capitalise on opportunities.
Find out more about our six ‘no regret’ actions that will help prepare tax functions for uncertainty on the scale of Brexit and fortify resilience in the face of disruptive events, in the paper below.