HM Revenue & Customs (HMRC) has been inundated with calls to their helpline from individuals and businesses with concerns relating to Brexit and the potential tax changes. This has compelled the government body to upload a recorded message saying: “There are no changes to any taxes, tax credits, child benefits or other HMRC services as a result of the vote on the EU referendum. Everything is continuing as normal. No laws have changed. There is no need to contact HMRC as a result of the EU referendum.”
Whilst Britain has not yet left the EU, or indeed begun the process (Article 50, the method of withdrawal from the EU, will not be invoked until there is a new prime minister), there is still much speculation as to the potential affect the Brexit result will have on business. Whilst we expect to see significant changes in the political landscape over the forthcoming months, it is likely that the government will introduce some interim pro-business measures and other announcements designed to calm global financial markets.
In the meantime, our Beavis Morgan Brexit Planning Team continues to monitor the situation closely, providing updates on the issues and changes relevant to you and your business.
For further information, please contact your usual Beavis Morgan Partner or a member of your Brexit Planning Team: