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.
Read our quick-start guide, outlining a variety of areas that could impact your business post Brexit.
London remains Europe’s major global finance centre despite Brexit and retains its second-place ranking in a list of the best financial centres around the world behind New York, according to new research.
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.
This 45-minute session with the Institute of Export and International Trade and Bibby Financial Services will update traders on the state of global trade as economies exit Covid-19 lockdowns and the UK adapts to new trade rules with the EU.
Summary of a study from think tank New Financial on the impact of Brexit on the UK banking and finance industry and the emerging post-Brexit landscape of financial centres across the EU. Full report available upon request.
House of Lords select committee report on the future UK-EU relationship on trade in services. Considers the crucial elements in the TCA affecting trade in services between the UK and the EU, together with areas where further agreement is required. Sectors covered: financial services; professional and business services; data and digital trade; the creative industries; research and education.
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.