UK chancellor seeks transitional Brexit deal as MPs weigh disruption risk

UK lawmakers have invited businesses and other interested parties to submit evidence on the desirability of transitional arrangements to be in effect between the time when the UK formally leaves the European Union and the point at which the UK’s final, settled relationship with the EU becomes effective. Many firms are understandably concerned that they will be faced with a sudden change in their operating environment in April 2019, Andrew Tyrie, chair of the House of Commons Treasury Committee, said in a December 12 consultation document.

While the impact of Brexit on UK tax policy may remain unclear for some time to come, businesses may welcome a transitional period that enables new tax measures to be phased in over a number of years.

Read more: My news story for Tax Analysts, December 12 (paywall).