The complexities of understanding and managing indirect taxes when doing business within the UK can be daunting. In addition to a plethora of ever-evolving domestic regulations and requirements complicated by Brexit, businesses in the UK must also consider challenges in complex areas such as customs and exports. Compliance becomes more challenging every year with tax […] … Read More

Thomson Reuters has and continues to monitor the regulatory changes the United Kingdom and the European Union imposes as a result of the BREXIT transition period that ended 31 December 2020. There have been and will continue to be various updates impacting the VAT treatments as policies for the UK and EU are updated in […] … Read More

Although there are no financial reporting requirements that relate specifically to Brexit, companies are required to disclose information such as key assumptions about the future, and other key sources of estimation uncertainty and the possible impairment of assets.  The impact of Brexit will therefore vary from industry to industry and business to business: those with […] … Read More

Indirect Tax A particular concern from an indirect tax perspective is that, depending on the terms of future trade agreements and the implementation of a transitional period, the UK may see the rate of duty rise. This would subsequently impact the total costs to the business. Additionally, EU-imposed statistical reporting and supplementary filings such as […] … Read More