The following article was published by Richard on LinkedIn on 30 June:

    Many commentators have looked at the VAT and Customs impact of a BREXIT, but there would also be direct tax implications.

    Assuming two variables

    - The UK will actually leave the European Union following the referendum
    - No agreement will be reached on EU tax directives continuing to apply post-BREXIT

    then the EU Parent/Subsidiary Directive and the Interest and Royalties Directive will cease to apply on exit.

    Above all this will impact upon multi-national groups headquartered in the UK and could make the UK a far less attractive holding ...

  • BREXIT and social security contributions for internationally mobile employees

    The following was published by Richard in LinkedIn on 24 June:

    The UK belongs to the EU social security contributions system which is governed by the locus labori principle. The result of this is that UK workers employed in another EU member state are only required to pay social security contributions in that member state.

    As a result of BREXIT UK workers employed in an EU state could face double social security contributions - in both the UK and the EU member state in which they are working.

    Looking at Switzerland which is not an EU member as an example, there ...

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