What is certain about the effects of Brexit?

A long list of facts have been published about Brexit that resulted from the UK’s referendum held on June 23, 2016 including the players involved and the legal process that the UK will undertake to follow through on this popular vote .

An even longer list of unanswered questions remains about how the effects of Brexit will be felt around the UK and outside its borders.  Significant debate exists about the impact of Brexit on dozens of matters from forecasted sterling exchange rates to immigration.

So far, we’ve primarily learned that much work remains to be done to renegotiate 43 years of treaties and agreements covering thousands of topics.  Complicating things further, no country has ever attempted a divorce from the EU, so there’s no model to follow.

For more information on Brexit, Baker Tilly International UK member firm, MHA Macintyre Hudson, has authored the Brexit Business Planning Guide for their clients. In this uncertain landscape, US businesses should maintain as much flexibility as possible in their European strategy.  We’ll continue to keep you informed regarding latest developments.

The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Tax information, if any, contained in this communication was not intended or written to be used by any person for the purpose of avoiding penalties, nor should such information be construed as an opinion upon which any person may rely.  The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments.