Brexit, tax and accountingHow Thomson Reuters can help tax professionals prepare for the impact and consequences of Brexit

Resources to help your organisation plan for the Brexit tax impacts

For the next two years the UK will negotiate its departure from the European Union and agree a new partnership to ensure the continued success and operation of both parties.

While it is difficult to predict the outcome of the discussions and its precise impact to existing EU tax and accounting regulations, we do know that through the Great Reform Act, the UK will be converting existing European legislation into UK law – keeping the parts that the UK considers “practical and appropriate”. As a result of this, and coupled with the timing of HMRC’s Making Tax Digital (“MTD”) program, we certainly expect a lot of movement in the Tax & Accounting space over the coming years, with major changes expected to existing Customs and Excise duties, indirect taxes, direct tax and other regulatory reporting obligations.

Trusted answers to Brexit tax and accounting questions

At Thomson Reuters, we believe in providing the best-in-class comprehensive tax technology solutions and are closely monitoring the impact of Brexit and MTD (on our customers and our products) to guide you through this period of uncertainty. As firmer details are published, we will engage our customers through various forums to discuss the impact of the changes and how ONESOURCE will address these. In the meantime, you can keep abreast of developments in this area via Checkpoint World and Reuters News.