This provides a useful overview of the impact on UK tax law of the UK's future relationship with the EU beyond the transition period, in particular:
- the VAT treatment of supplies;
- whether customs declarations will be required in relation to goods moving between the EU and the UK as well as the payment of customs duties;
- whether UK tax law will be required to comply with EU fundamental freedoms;
- whether the exemption from withholding tax for payments of dividends, interest and royalties between UK companies and associated companies resident in different Member States will continue to apply; and
- whether tax relief for mergers and transfers between companies incorporated in the UK and different Member States will continue to apply.
If you would like to discuss specific arrangements for support through the risks of the move to an uncertain future relationship, on how you might express the concerns of your business to governments, on dispute risks that may arise, or on any other questions or challenges you have, please do contact your regular Herbert Smith Freehills relationship contacts, or otherwise any of our experts listed here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.