NEW CONSEQUENCES FOR UK BUSINESS
November 23, 2016
If the PM will be really decisive about Brexit the tax consequences of it will be very severe. In case of the hard Brexit we could expect a slump in the economy and as a consequence the imposing of higher personal and corporation tax. A good solution to avoid the negative affect of Brexit is to move company offshore or try to obtain EU residency to assure the right to incorporate or conduct business within the EU. The decision should be taken the sooner the better. After triggering the articele 50, every one will have seen the impact on the economy and will try to secure their future within the EU. Delaying this decision could jeopardise the future of your business.
No one expects the soft brexit because the EU countries are not so dependable on the UK to the same extent as the UK, but there is eagerness to show disdain for the UK in order to discourage other EU countries from opting out.
NEW LEGISLATION AND TAX EVASION
September 1, 2016
After Brexit we will publish and review important articles about new legislation and the changes in law concerned with removing the Eu law from the British law. I would like to present information on how this will affect the companies and if moving business overseas would be suitable solution.
Next time we will present taxation of major EU country with comparison between UK and Poland. Corporation tax in Poland is lower that this one in UK and settles 18%.
In the table is simple comparison in personal tax, NIC and corporation tax in both two countries. NIC in Poland are little higher than the same in UK but in favour of Poland is that wages are significantly lower than in Britain and corporation Tax is lower. Higher personal tax and insurance allowances are in favour of UK on the other hand.
|Personal Tax||18%, 32%||20%, 40%, 45%|
EVERYBODY IS RIGHT
Looking ahead, the future of the UK remains unclear. The savour of panic can be sensed among the leaders of the Labour Party as well as at the Tories. PM Cameron had previously conceived a plan before he won the election based on the promise given to the people of the referendum to stay or leave the EU. He was sure that he would win the referendum but the future seems to be hazy.
I think that each group has its rights, whether to leave or stay. Politically the EU is like a corporation between each country, like a cog in a ‘mincer’ machine.
From an economic point of view the UK could lose a lot. Many companies based in the UK trade with the EU selling their products within the EU. After brexit this possibility could be jeopardised, but they are looking towards a new trade agreement. Is it possible to gain the agreement for free? The amount of money spent could be much higher than the EU contribution in such a case no one will count on the generosity from the other side of the English Channel.
Managers will face the problem of branching out new EU company inside the union.
What country do they choose?
It seems the French PM has taken this new opportunity by liberating the labour law to obliterate the fear of expensive and impossibility of firing French workers, which will encourage a precarious business to move in.
BEST EUROPEAN COUNTRIES TO LIVE IN
June 24, 2016
The referendum is over and UK will leave EU.
I think it is a bad situation for the country. Today the Pound is plunging on the leave result.
How will it affect UK companies?
I think that many directors and managers will concede big problems which will appear on the horizon. The most challenging task is for the smaller companies who trade with EU. How the will trade-deal look like after the formal Brexit? Will the UK be successful in signing an agreement?
There are so many unclear queries and the future of the UK remains misty like the climate here.
After this bunk idea with the EU referendum for David Cameron it will be very hard ‘to patch up our broken home’ just like in the Marillion lyric. After the referendum the UK woke up in limbo. The pound is plunging, Scotland want to opt out of the UK and what next? Many Brits are asking for an Irish passport including the Democratic Unionist Party MP Ian Paisley, who had campaigned for Brexit. He tweeted: “My advice is if you are entitled to a second passport then take one.” (Independent, 28/06/2016) Maybe he expects that the British passport after Brexit will be worth no more than the paper, which it is printed on.
Many people voted for Brexit because of the immigration problem, too many Poles arrived into the country during the last few years. By leaving the EU they haven’t solved any problems but have multiplied them.
Additionally there is now the problem with the economy, not just with immigration. But if the economic problems will deepen, unemployment will surge and the immigrants will flee the country without any other lure or pressure. Is this the way it should work? On this occasion many Brits will do the UK population will decrease- the next point of Cameron’s goals. Looking at these aims we can now say the PM has achieved success nevertheless.