Arndt Raupach, Dirk Pohl, Xaver Ditz, Dietmar Gosch, Axel Bödefeld, Matthew Herrington, Thomas Küffner, Ekkehart Reimer, Rainer Spatscheck, Kian Tauser

Praxis des Internationalen Steuerrechts 2016/2017

7. Aufl. 2017

ISBN der gedruckten Version: 978-3-482-63297-6

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Praxis des Internationalen Steuerrechts 2016/2017 (7. Auflage)

II. Brexit: Impact on International Tax Planning, a UK perspective (Herrington)

1. Brexit

  • What has happened so far

  • What happens next: the different alternatives

  • How EU law affects UK tax law at the moment

  • How that might change

1.1 The story so far…
  • National referendum held on 23 June on the question “Should the United Kingdom remain a member of the European Union or leave the European Union?”

  • “Leave” won 51.9% to 48.1%

    • Majorities for “remain” in Scotland, Northern Ireland, London and Gibraltar

  • The referendum is not legally binding: but is in practical political terms

1.2 Brexit – overview
  • David Cameron stepped down the next day

  • Theresa May is the new PM

    • Has decided to invoke Article 50 of the Lisbon Treaty “no later than March 2017”S. 24

  • Once Article 50 is invoked, this triggers a minimum 2 year negotiating period for UK exit from EU

    • High Court challenge to triggering Article 50

    • Parliament likely to get a vote on whether the terms of the proposed exit are acceptable

  • In the meantime, nothing much is likely to change from a UK legal perspective

    • EU laws continue to apply

    • Government unlikely to concern itself with unwinding changes to domestic l...