Business migration is often done due to tax considerations. Brexit will have its implications in that area as well. While the Double Taxation Avoidance Agreements are unlikely to be directly impacted, it is worth mentioning that those deal mostly in direct taxes as well as repatriations of profits. The VAT compliance of businesses may turn truly problematic for a number of business both in the goods and services areas. The VAT is collected in advance for import in the EU, which will mean 20% on average of the exports (or over £30 billion in tax collected per year). The standard VAT return period is 45 days, which may cause significant difficulties for a number of businesses and increase their financing needs in a period of monetary tightening.
We also offer our clients investment consulting. Should they choose to move part of their operations in another location (EU or the rest of the world), we will offer full analysis of the risks and potential benefits. Our analysis will include macro and micro economic tendencies, workforce availability, ease of transport and other infrastructure (such as optic high-speed Internet). We will help our clients assess the regulatory compliance and foreign investment support (if the local government provides any).
Planning ahead is the key for your business success and we are there to assist you with all the information you may need.