The UK Brexit transition period ended on 31 December 2020. New rules apply from 1 January 2021. This page brings together guidance and news from ICAEW, as well as externally-produced resources that provide practical information covering the impact on banking, insurance and investment management.
This guide outlines some considerations to help banks and others, including auditors and internal auditors, approach the challenges that have arisen from the introduction of IFRS 9 Financial Instruments and Brexit’s potential impact on this.
Thirty minute session from ICAEW Virtually Live covering the 10 practical considerations that businesses need to be focusing on right now to be prepared for the end of the transition period
Read our quick-start guide, outlining a variety of areas that could impact your business post Brexit.
16 November 2020: The Chancellor has set out the government’s plans to make the UK a world-leader in green finance and financial technology.
7 October 2020: The Cyprus funds industry has been described as Europe’s newest investment fund hotspot. Andreas Yiasemides, partner head of fund services at PwC Cyprus, outlines the opportunities the region can bring potential investors and fund managers.
30 September 2020: As the Brexit transition period nears its end, businesses in the UK and EU face a number of VAT issues that need to be addressed, says indirect tax expert Stephen Dale, FCA.
This guide outlines some considerations to help banks and others, including auditors and internal auditors, approach the challenges that have arisen from the introduction of IFRS 9 Financial Instruments and Brexit’s potential impact on this.
Page from HM Treasury which brings together guidance on the end of the transition period for consumers and financial services businesses from a number of government departments and regulatory bodies.
Commentary and analysis of how the trade agreement may affect the financial services sector, highlighting four key areas of regulatory focus for firms: cross-border access, protective vs open policies, capital and frictional costs, and co-operation on the supervision of large groups and global policy forums.
Guidance on the VAT treatment of transactions or movements of goods which span the end of the transition period. It covers goods, fulfilment houses, services, call-off stock, and financial services.
Information from the Financial Conduct Authority to help financial services firms prepare for the end of the transition period. Outlines issues for all firms and considerations for UK firms and EEA firms conducting business in the UK.
Article from law firm Eversheds Sutherland on the implications of the withdrawal arrangements as the UK leaves the EU. Discusses business planning with sections on immigration, data protection and financial services.
Checklist from the <a href="https://www.treasurers.org">Association of Corporate Treasurers</a> to help you assess your current treasury landscape, understand what the business needs and how your banks are adapting. Sections cober maintaining sufficient liquidity, continuity of contracts, FX volatility, cash management, credit rating agencies and pensions.
Briefing paper from the House of Commons Library on the implications of Brexit for the financial services sector. The paper draws together the responses of official bodies, financial institutions and other organisations as well as highlighting developments since the referendum.
Report from Deloitte which highlights the issues that affect all Belgian companies that source and sell to/from the UK market. The report identifies the sectors that are particularly sensitive to Brexit, focusing on the automotive industry; the chemical industry; life sciences; agri-food and beverages; textiles; financial services; transport and logistics; the creative sector.