A clear outcome to Brexit negotiations still seems some way off and it is understandable that some businesses are taking a ‘wait and see’ approach. Yet there could still be a hard Brexit in March 2019 so we are still encouraging organisations to take their first step in Brexit planning. We are already seeing that the French and German Social Security Departments are declining to issue A1 certificates that apply beyond March 2019 and there are inevitably further new challenges that businesses will face in the coming months.
What is evident is that those within organisations with responsibility for tax matters, which spans from HR and Global mobility specialists dealing with the internationally mobile workforce through to those in dedicated tax and finance roles responsible for taxes such as Corporation tax, VAT and Excise Duty will need to work together to ensure that their business is ready for whatever changes Brexit may bring. As with the BEPs (Base Erosion Profit Sharing) tax changes and the interaction they involved between employment taxation and transfer pricing rules for internationally mobile populations, the businesses that effectively prepare for Brexit will be those that work collaboratively and pull together in the right direction.
Our new in-house tool
BDO have created a fast and free online tool that you can use to quickly establish the issues that Brexit will trigger for your business. By answering just six questions about your business, users will get an instant branded email listing the tax areas the business should focus on – an easy first step in their Brexit planning; you can share the output with your internal colleagues handling other tax related matters.
If you have additional questions then why not speak to BDO at our next Bite Size Briefing. You can take a look at our Events to see when the next one is coming up.
Alternatively, you can find their contact details in our Trusted Suppliers Directory