The Federation of Small Businesses said continued uncertainty was making it impossible for businesses to plan, hire, and invest, after Prime Minister Theresa May asked for more time to secure changes to the Irish backstop. My news story for Tax Notes (paywall), published February 13: Businesses Warn of ‘Significant Harm’ as Brexit Deadline Looms
Chancellor of the Exchequer Philip Hammond’s claim that a Brexit “deal dividend” would provide further funding for the government’s forthcoming public spending review was not credible, according to the House of Commons Treasury Committee. My news story for Tax Notes (paywall), published February 13: Chancellor’s Brexit ‘Deal Dividend’ Not Credible, MPs Say
UK Prime Minister Theresa May rejected the Labour Party’s call for a permanent customs union with the EU, with International Trade Secretary Liam Fox describing the party’s stance as “a dangerous delusion.” My news story for Tax Notes (paywall), published February 12: May Rejects Labour Call for Permanent Customs Union With EU
British and EU negotiators will hold talks to seek a way through the Brexit impasse, European Commission President Jean-Claude Juncker and UK Prime Minister Theresa May said following a “robust but constructive” discussion in Brussels. My news story for Tax Notes (paywall), published February 8: May Vows to ‘Negotiate Hard’ to Break Brexit Impasse
While UK Prime Minister Theresa May sought to secure changes to the Irish backstop, European Council President Donald Tusk denounced those who promoted Brexit without “a sketch of a plan”. My news story for Tax Notes (paywall), published February 7: May Under Pressure as Tusk Berates Brexiters ‘Without a Plan’
The UK government will make a decision shortly on post-Brexit tariffs, International Trade Secretary Liam Fox said in response to a report that ministers are considering a zero tariff policy. My news story for Tax Notes (paywall), published February 7: U.K. Ministers Challenged on Post-Brexit Tariffs Policy
Prime Minister Theresa May declared that she will seek “legally binding changes” to her Brexit deal after members of Parliament voted to back a new proposal to replace the Northern Ireland backstop.
But a spokesman for European Council President Donald Tusk told reporters, in response to a series of House of Commons votes late on January 29, that “the backstop is part of the withdrawal agreement, and the withdrawal agreement is not open for renegotiation”.
My news story for Tax Notes (paywall), published January 30, also published in the February 4 edition of Tax Notes International:
Planning for a no-deal Brexit among larger businesses is “highly variable,” but prudent firms will keep preparing so long as such an outcome “remains an option,” said James Stewart, head of Brexit at KPMG UK.
“Many of the businesses we’re speaking to are praying for an extension to article 50,” Stewart said in a January 28 statement. “At this stage even our most informed clients feel as if anything could happen. They’re thinking about getting products from A to B, market access, and staffing up situation rooms for April,” he said, adding that there are “no safe bets.” My news story for Tax Notes (paywall), published January 29:
The cost of decommissioning offshore oil and gas infrastructure is “highly uncertain,” and there are gaps in the UK government’s understanding of the impact of tax changes in the sector, the National Audit Office said.
My news story for Tax Notes (paywall), published January 26:
HM Revenue & Customs defended its implementation of devolved income tax rates as tax professionals reported errors in the identification of Scottish taxpayers.
HMRC was unable to provide the National Audit Office with an action plan for the implementation of Welsh income tax, setting out “lessons learned” from the earlier implementation of Scottish income tax, the NAO said in a January 24 report. The plan was drawn up after a July 2017 event attended by HMRC staff involved in the Scottish project…
My news story for Tax Notes (free to view), published January 25: