Financial services

This week’s chart is on the UK-EU withdrawal agreement financial settlement. Perhaps surprisingly given recent press coverage, ICAEW’s analysis is that it remains roughly unchanged from the Treasury’s 2018 estimate.

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.

16 January 2020: as the figures for net migration to the UK plummet to a 16-year low, will the financial services sector find itself short of talent? Fraser Vandal, a solicitor in law firm TLT’s immigration team, explains how Brexit will affect industry employment.

Auditors will need to consider how Brexit-related risks could impact on the firms they are auditing. Our guide provides a framework for that analysis.

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.

Analysis from the ONS of UK trade in services in the context of the ongoing COVID-19 pandemic and the end of the EU transition period on 31 December 2020. Sectors covered: Government; Personal, cultural and recreational; Other business services; Telecommunications; Intellectual property; Financial; Construction; Travel; Transportation; Maintenance and repair; Manufacturing.

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.

Information from the Financial Conduct Authority to help financial services firms at the end of the transition period. Includes temporary transitional power (TTP), considerations for UK and EEA firms and the end of passporting.

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.