It is now less than a year before the UK officially cuts its ties with the EU, although how big a cut into those ties is still being heatedly debated in the corridors of power. There are many people who believe a clean break from the European Union is the right thing to do to keep the UK fully independent and in charge of our laws and borders, whereas others believe that it would be suicidal for us to leave the customs union and the single market and such a deal would lead to economic stagnation and chaos.
Survival & Growth Post-Brexit
We don`t want to get into what we think would be the best scenario here but we do want to make businesses aware that they do need to put plans in place as soon as possible to ensure that, whatever the final Brexit deal, their business will be able to cope, survive and even grow.
As accountants we can certainly help you, the business owner, in this respect. We can advise you on the possible implications of leaving the EU and how to plan for any changes that may bring as to how they do their business. There will be ramifications on a whole range of areas, including tax, the passport rights of certain people, general compliance and the impact it will have on business such as the import and export situation after Brexit etc.
Renegotiating Trade Deals
It is likely that many businesses will have to renegotiate trade deals, and indeed find new trading partners, as well as develop new policies which will enable them to maximise their business potential after Brexit. Whatever the final Brexit deal businesses cannot sit back and do nothing, they have to be proactive in ensuring their business will be able to compete and be successful in any new environment.
At WHR Accountants we can advise you through the whole process and make you aware of the tax and financial implications of any decisions you make. For more information on our services you can give us a ring in the first instance on 028 3752 2909.
028 3752 2909
56 Upper English Street Armagh
Phone: 028 3752 2909
By Fax: 028 3752 4567
MAKING TAX DIGITAL WORKSHOPS (MTD): We are holding a series of workshops in our office on Tues & Thurs during Nov & Dec to help explain MTD changes & how to prepare for them. To book onto one of these workshops please give our office a call on 028 3752 2909