Tax Strategy & Benefits

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UK Freeports – Q&A published

Back in November 2020, the UK government published the Freeports Bidding Prospectus, formally opening the bidding process to establish what it hopes will be at least seven new Freeports across England. You can read our analysis of the tax reliefs contained in the Prospectus, here: Freeports in England: The Tax Offering. As part of the … Continue Reading

Business Viability and Brexit

The UK will leave the EU single market, Customs Union, and VAT and excise duty area on 31 December. From 1 January 2021, the UK will operate its own external border as a sovereign nation. Is your business ready for the looming deadline of Brexit?  Dealing with Brexit and the ongoing uncertainties about the COVID-19 … Continue Reading

UK Freeports – The Tax Angle

On Wednesday 7 October 2020, the UK government published the Response document to the Freeports Consultation that was originally launched in February 2020. With the UK simultaneously negotiating multiple new free trade agreements, freeports could make a significant contribution to making the UK’s post-Brexit economic and trade policy truly global. The creation of freeports is … Continue Reading

VAT to the Future

Some surprises have been unearthed in a report from Parliament’s European Scrutiny Committee on the future of VAT in the UK after Brexit. Published in this week, Jeremy Cape examines the report and demystifies what it means. The European Scrutiny Committee, chaired by long-time eurosceptic Sir William Cash, published its report on VAT: EU … Continue Reading

Yet Another Busy Week in the Brave New World of Brexit

On 28 February the EU27 produced a draft Withdrawal Agreement about which many have already written. Notably the UK had not previously produced its own draft (lawyers generally like to produce first drafts of documents as it gives control of the negotiation to them). To those of us unfortunate enough to live and breathe Brexit on … Continue Reading

UK Supreme Court Judgment Shows Relationship Between National Courts and the European Court of Justice

The UK Supreme Court has today delivered its judgment in the long-running Littlewoods VAT case. The facts are seemingly straightforward and achingly dull. Between 1973 and 2004, Littlewoods overpaid VAT to Her Majesty’s Revenue and Customs (HMRC) in respect of commissions paid to its agents who distributed mail-order catalogues (common in the pre-online age).… Continue Reading

Haven our cake and eating it

In a recent interview with Tax Analysts, Pascal Saint-Amans, director of the OECD’s Centre for Tax Policy and Administration, was asked how concerned he was that the UK will end up going the tax haven route following withdrawal from the EU.  He said: “The U.K. wants companies to pay taxes — not much tax, because … Continue Reading

Brexit – Tax Aspects

The EU Referendum on membership, on 23 June 2016 now looms large on the horizon. This is the next in our series of Blogs which will deal with specific issues in specific areas or sectors that businesses may face if there is a Brexit and we consider here the possible tax aspects of a so-called … Continue Reading

Brexit: An overview of the general legal and policy principles which would apply

Analysing the legal consequences of a potential Brexit and possible alternatives for the future relationship of the UK with the EU requires taking into account of the specific aspects of each relevant industry and sector. The general principles which are the starting point of each sector and industry specific analysis are the following: Membership of … Continue Reading