From now on until Britain has left the EU, CPA are going to post regular blogs for the comments we have seen in the press and elsewhere about Brexit, which is perhaps the most momentous event that will happen to the UK for a very long time and will have long-term implications for every citizen living in this country for good or ill. We aim to be balanced in our reports which will be divided into three categories;
- Category 1 – Positive comments on Brexit
- Category 2 – Negative comments on Brexit
- Category 3 – Neutral comments on Brexit
We posted our first blog on 12th May 2017 (CPA Brexit blog on 12/5/2017)
We posted our second blog on 16th May 2017 (CPA Brexit blog on 16/5/2017)
We posted our third blog on 17th May 2017(CPA Brexit blog on 17/5/2017)
We posted our fourth blog on 22nd May 2017(CPA Brexit blog on 22/5/2017)
We posted our fifth blog on 26th May 2017(CPA Brexit blog on 26/5/2017)
We posted our sixth blog on 2nd June 2017(CPA Brexit blog on 2/6/2017)
We posted our seventh blog on 16nd June 2017(CPA Brexit blog on 16/6/2017)
Or see all posts referencing Brexit
Please find below our eighth Brexit blog which has been compiled today on 29th June 2017:-
BREXIT; NEUTRAL COMMENT: In The Morning Account, 20th June, under the heading “FDs will play vital role in guiding firms after Brexit” Ismail Mulla examines how the role of finance directors will become more pivotal than ever post-Brexit as companies navigate the transition period. Paul Davies, audit partner at BDO, said: “In addition to taking overall control of a company’s accounting function, today’s new breed of finance directors are being asked to provide leadership to the board’s finance and accounting strategy, as well as optimising the company’s financial performance and strategic position.” Looking forward to this year’s Yorkshire Finance Director Awards, Mr Davies adds: “It’s important that we recognise and celebrate the value and knowledge that finance directors add to the organisations that they work for and how this all adds up for the economic performance of our region.” Yorkshire Post, Business, Page: 5
BREXIT; NEUTRAL COMMENT: In The Morning Account, 20th June, under the heading “Brexit’s effect on VAT and duty tariffs” Nicholas Hallam, chief executive of international VAT specialist Accordance, talks to Financial Director about the origins of VAT – both the French and the Germans lay claim to inventing it and VAT was implemented in the UK in 1973 as a condition of joining the EU. Considered the most efficient of taxes (and for this reason rejected by US Republicans) it is firmly in the sights of Brexiteers who have a vision for Britain as a low tax, low regulation hub for businesses. Mr Hallam says that although UK VAT law is based on the EU framework, over time we may see a range of different rates established post-Brexit. He goes on to look at possible consequences of Brexit on duties and tariffs, reporting to Intrastat, cross-border e-commerce and the VAT implications for services, which he says will not be impacted as significantly as the supply and movement of physical goods because changes to EU VAT rules in 2010 eliminated the need for VAT to be charged on most business-to-business transactions. Financial Director
BREXIT; NEUTRAL COMMENT: In The Morning Account on 28th June, under the heading “Ministers set up business advisory group on Brexit” it was reported that the Government has announced that it is setting up an advisory group to ensure that business is given a voice over Britain’s approach to Brexit. The new body was confirmed by Business Secretary Greg Clark, who told lawmakers he has met with workers, businesses and local leaders around the country and investors around the world since last year’s referendum decision to leave the EU. The group will be led by Philip Hammond, David Davis and Mr Clark. Other members of the group include representatives from the Institute of Directors, the British Chambers of Commerce, the CBI, the Federation of Small Businesses, and the EEF. Financial Times, Page: 3 The Times Bloomberg