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Brexiter’s firm had assets of £548,573 five months after MEP claimed he had no money.
The UK is lagging behind European counterparts in terms of growth because of Brexit, the Director of Tax Research UK tells Nick Ferrari.
The EU has opposed brutal animal welfare and rampant tech monopolies. Post-Brexit Britain will be exposed to both.
Investigation into possible anti-competitive behaviour is likely to spark US anger.
Commission also says it plans to take Irish government to European court of justice over failure to collect €13bn from Apple.
For many sellers on Amazon, Brexit is causing significant problems. Last week my company decided to attempt our first shipment into one of Amazon’s European fulfilment centres since Britain left the European Union on 1 January 2021.
HMRC says millionaire owes money for inheritance tax liability on Ukip donations.
Bank of England criticism is unfair – Brexit has made it near impossible to avoid this financial crisis
29/09/2022
There is only one real way to properly calm the markets – the Prime Minister and the Chancellor need to reverse the unfunded tax cuts they announced.
Around 2,300 tax compliance staff – nearly a tenth of that workforce – were redeployed in 2021-22.
Over 1,000 staff were redeployed to deal with the fall-out from leaving the EU. Now, the financial consequences are coming to light.
Civil servants ‘being moved from one crisis to another’.
Prime Minister Boris Johnson was urged to rein in his tax-cutting plans amid warnings that a no-deal Brexit could blow a 100 billion-pound ($123 billion) hole in the public finances and lift government debt to its highest for half a century.
Boris Johnson ‘hung up’ on trying to prove Brexit was good and flight tax change meaningless, government’s climate adviser says
31/10/2021
Rishi Sunak's cut to tax on internal UK flights in Wednesday's Budget was an example of the government trying to prove Brexit was a good idea, a top climate adviser has claimed.
Boris Johnson: Britain's New PM Was Born in New York City and Was a U.S. Citizen for Decades—Until the IRS Caught up With Him
23/07/2019
Boris Johnson, Britain's newly-crowned prime minister of the U.K., was born in New York City and only recently relinquished his American passport when the Internal Revenue Service chased him for unpaid taxes.
The independent Office for Budget Responsibility has calculated that the scarring effect of covid lockdowns on the UK economy is only half of what it has cost the UK to leave the European Union.
Vote Leave chief Matthew Elliott, who is credited with several successful political crusades, is on the Free Market Forum's advisory board
Brexit has cost the UK economy billions of pounds in lost trade and tax revenues, according to research shared with ITV News by the Centre for European Reform. / It estimates the economy is 5% smaller than it would have been if the UK had stayed in the EU.
The evidence increasingly shows that our decision to leave the European Union has lifted the price of imported goods, flattened business investment and damaged trade.
BREXIT and the pandemic are fuelling a surge in interest from multi-millionaires in moving to the Island – with Jersey this year set to record one of its highest numbers of new ‘high-value’ residents.
Wonder what happened to 'let's fund our NHS instead?' / New research has found Brexit has cost the UK government £40 billion a year in lost tax revenue.
The Office for Budget Responsibility suggested leaving the EU would reduce the UK's long-term GDP by around 4% - compared to 2% for the pandemic and lockdowns.
Brexit may kill London as a luxury shopping destination, with scrapping of tax rebate on purchases likely to put off international customers
08/02/2021
Worried that EU visitors post-Brexit would start claiming back value added tax on luxury purchases, the UK scrapped its rebate on the tax. / This makes the UK the only country in Europe not to offer such a rebate and makes Paris and Milan more attractive, as customers can save thousands of euros.
A week ago the UK fully left the EU. The moment we all campaigned against, warned about and feared the consequences of became reality – and it’s every bit as bad as forecast.
Brexit red tape onslaught deepens as UK economy loses £47bn because businesses drown in cross-border tax complexities
18/05/2022
Cross-border tax complexities cost the UK economy £47.6bn in lost revenue last year, an average revenue loss of 16 per cent on total EU exports, according to fresh industry data shared with City A.M. this morning.
Brexit was hailed as an escape from the ‘red tape’ of the EU, however ecommerce businesses are learning that selling into the EU comes with more Brexit red tape than they ever had to deal with before.
Irish consumers are planning on buying Irish after Brexit and many have already switched from UK websites due to concerns around consumer rights.
Real pay set to be £470 lower per worker each year, say top economists. / “We can’t blame Brexit for all of the 5.2 per cent GDP shortfall … but it’s apparent that Brexit is largely to blame,” said John Springford, author of the CEF study.
With the gradual reopening of UK borders and their new eligibility to shop Tax Free in the EU, UK residents represent a new opportunity for European retailers. / Continental European shopping destinations will attract more international shoppers following the abolition of the Tax Free Shopping scheme in the UK
BREXIT, Polish-British cooperation and Polish diaspora in Great Britain – interview with the Polish Ambassador to Great Britain and Northern Ireland [in Polish]
21/04/2021
On April 14, 2021, the Warsaw Institute, together with The Warsaw Institute Review quarterly, had the honor of hosting another online event – the Diplomacy Talks Series. The title of the discussion, moderated by the president of the Warsaw Institute, Tomasz Kijewski, was “BREXIT and its importance for Europe and the Polish diaspora in Great Britain and Northern Ireland”.
How will wealthy Brexiteers profit from Brexit? The surprising truth about the world's most secretive tax network for the wealthy. Plus, we hand the Brexit Party a rather unfortunate award.
Brexit… out of fashion in Somerset
04/05/2021
It would be fair to say that businesses in Somerset are now really starting to feel the effects of Brexit and our new trade deals with the EU and the rest of the world. From all the businesses I have spoken to so far the effects have ranged from bureaucratic nightmares with unnecessary paperwork and extra costs to complete shutdowns of exports.
Less than two weeks after her government plunged the markets into crisis with a disastrous budget, Prime Minister Liz Truss used her closing speech at the Conservative Party conference to blame the meltdown on a nebulous anti-growth coalition.
Britain’s economy is forecast to shrink by 0.4% in 2023, more than any other in the Group of Seven richest nations, according to the Organization for Economic Cooperation and Development (OECD). Britain is the only G-7 member whose economy has yet to return to pre-pandemic levels.
One consumer asked to pay £140 in fees says she ‘won’t order anything from Europe again any time soon’.
‘Prepare for the worst’ EU officials tell business after Sajid Javid’s FT interview.
Camden Market traders who 'may not survive London' as they're forced to live 'month to month'
03/02/2024
Ms Dupont told MyLondon: "Since Brexit, just direct 25 per cent tax increase on the product coming from abroad. Knowing that we are an island, it's difficult to avoid that - it just happens." / "To be honest, my opinion, Camden mostly a touristy place. We definitely did, before Brexit, a few years ago better."
Rishi Sunak reportedly planning to open bidding for towns, cities and regions to become designated zones where UK taxes and tariffs will not apply.
There are fears that the cost of carrying out extra Brexit border checks may fall on island ratepayers unless more cash is forthcoming from central Government.
Could an independent Wales go it alone?
09/08/2019
Wales is not too poor to be an independent nation. The ex-first minister of Wales believes so anyway, though others are less sure. So, how would Wales fare economically if it had to go it alone in a post-Brexit world?
New visa rules, taxes and transport restrictions are some of the hurdles British dance and theatre organisations must now overcome to tour Europe.
Who’d have thought that three months on we’d still be struggling with Brexit barriers that impact how cross channel trade works? In fact, as a country, we haven’t even really got internal trade sorted with Northern Ireland still seeing issues ordering goods to and from mainland Britain.
Economist says without Brexit we ‘wouldn’t be talking about an austerity budget this week’
14/11/2022
"The need for tax rises and spending cuts wouldn't be there if Brexit hadn't reduced the economy's potential output so much."
A Brexit involving staying in the customs union would leave the UK £80bn worse off a year than if it had remained in the EU, a report says. / The National Institute of Economic and Social Research (NIESR) said tax income would fall by £13bn a year.
Some EU specialist online retailers have said they will no longer deliver to the UK because of tax changes which came into force on 1 January.
Competition commissioner sees agreement with Canada as model but says deal with Brexit UK would be different
EU migrant workers contribute £2,300 more per year to UK than average British citizen, study reveals
18/09/2018
Migrants from the EU contribute £2,300 more to the exchequer each year in net terms than the average adult, the analysis for the government has found. And, over their lifetimes, they pay in £78,000 more than they take out in public services and benefits - while the average UK citizen’s net lifetime contribution is zero.
Britain will have to recover millions of euros from some multinationals after EU antitrust regulators ruled on Tuesday that an exemption in a UK tax scheme was illegal.
European commission looks at tax rules after report reveals tech firms pay less than half the tax of traditional companies.
Vote a boost for reformers and reflects desire to rein in super-rich after Pandora paper revelations.
THE former CEO of Sainsbury’s has been clear about what initially caused the cost of living crisis – telling Sky News that Brexit is to blame.
A leading skateboard distributor has set up another business in the Netherlands to avoid paying tax twice on exports after Brexit.
Gemma Lee handed hefty tax bill for lifesaving 'miracle' drugs because of post-Brexit rules
13/04/2022
A terminal cancer patient has been handed a hefty tax bill for her "miracle" lifesaving drugs, because of changes to how VAT is charged post-Brexit.
Getting ready for changes - Communication on readiness at the end of the transition period between the European Union and the United Kingdom (European Commission)
09/07/2020
Even if the European Union and the United Kingdom conclude a highly ambitious partnership covering all areas agreed in the Political Declaration by the end of 2020, the United Kingdom’s withdrawal from the EU acquis, the internal market and the Customs Union, at the end of the transition period will inevitably create barriers to trade and cross-border exchanges that do not exist today.
Opponents say remarks are ploy based on xenophobia to win Labour leave marginals.
Government slashed domestic flight taxes ‘to prove Brexit was a good idea’, says top climate adviser
31/10/2021
The decision by Rishi Sunak to cut domestic flight taxes was met with opposition by climate groups and Labour figures
Economists tell us Brexit will have a substantial economic impact on our lives. But how would ordinary people experience them? Ben Chu looks at the possible impact on wages, benefits and taxes.
Economists tell us Brexit will have a substantial economic impact on our lives. But how would ordinary people experience them?
Try and find an instance of the market reacting to tax cuts anywhere else on Earth the way it reacted to the UK’s mere mention of such a simple policy. The market usually loves tax cuts. Not this time. Why?
How Brexit is Levelling Down Luxury Brands
31/01/2022
Britain’s economic and cultural prowess is suffering due to post-Brexit tax changes, reports Sascha Lavin. / As the Government publishes a 100-page ‘benefits of Brexit’ paper today, luxury brands are calling on Boris Johnson to rethink a post-Brexit policy that is harming their international competitiveness.
How Brexit stuffed the City
14/06/2023
The banks pay huge amounts of tax. If they lose business, then Britain’s economy will suffer.
Forget meaningless numbers from politicians — get an idea how much of your tax bill contributes to EU membership!
For 2021, national tourist board Visit Britain has forecast that visitor numbers will be lower even than in 2020, when travel restrictions were at their highest.
SCOTLAND has lost out on £1.6 billion in funding for public services as a direct result of Brexit, the First Minister will say.
Decision on British overseas territory comes less than two weeks after UK left bloc.
Irish Examiner view: The harm done by Brexit keeps stacking up but nobody is talking about it
29/12/2022
The data suggests Britain has been severely financially hurt by Brexit but nobody in authority there seems to want to discuss it.
Liz Truss faces backlash on Australia trip over plans to hike UK taxes on wine from Down Under
21/01/2022
Foreign secretary Liz Truss is facing a backlash from Australian wine producers during her trip Down Under, amid complaints that any benefits from a post-Brexit trade deal will be more than wiped out by proposed changes to UK taxes on alcohol.
The men behind Trussonomics and Brexit, the two great man-made catastrophes of recent years, are to be honoured for their ‘great work’.
Trump says the competition commissioner hates the US, but what she really hates is tax avoidance.
British luxury retailer Matchesfashion has been hit hard by COVID-19 and Brexit, its Companies House filings revealed.
UK overseas territories such as Cayman Islands also may lose protection once afforded by UK’s EU membership.
Cuts to VAT and corporation tax said to be part of 'Project After' proposals.
New delays to post-Brexit import controls announced despite tax evasion and smuggling fears
11/03/2021
Businesses had warned of Northern Ireland-style disruption to trade if yet more red tape was imposed.
Specialist retailers across the EU have stopped selling goods to the UK due to the tax rules involved in delivering to Britain after Brexit.
Chancellor to warn leadership candidates they can leave with no deal or spend, but not both
No-deal Brexit: 10 ways it could affect you
01/08/2019
How could you be affected if the UK does leave the EU without an agreement?
A previously confidential government study detailing 142 areas of life in Northern Ireland that will be impacted by Brexit has been published, revealing risks to everything from cooperation on congenital heart disease and cross-border child protection to rules preventing the looting of national treasures.
After Trump security adviser John Bolton’s visit it’s clear the price of US backing will be paid both in trade and foreign policy.
Philip Hammond is set to warn that a no-deal Brexit would harm the British economy, devour a £26.6bn Brexit war chest, and risk the break-up of the UK.
Post-Brexit border charges due to be introduced next January could impact UK consumers higher food prices and supply chain disruption, warns UK food and logistics industry bodies.
Companies are leaving Britain’s shipping registry due to uncertainty over Britain’s departure from the European Union and future commercial arrangements with the bloc, industry officials say.
Brexiter Ineos boss, who has an estimated £17.5bn fortune, officially changes tax domicile.
Billionaire said Britain would be 'perfectly successful' outside of the EU, but is now opting to leave.
It was billed as the rebirth of British business — a chance to build a brighter commercial future, free of costly bureaucracy. But Brexit is proving far from profitable for many UK small and medium-sized enterprises (SMEs).
People will travel to Europe to go shopping because Britain no longer offers tax-free purchases to international tourists, the boss of clothing chain Superdry has warned.
Regime change at No.10 could revive one vision of the British economy. But it remains totally unrealistic.
Liz Truss and Rishi Sunak feel bound to talk lower spending to party members, but the former chancellor at least must see the folly of losing billions off our GDP.
Taxes worth £800m go unpaid as border checks relaxed to keep traffic flowing after Brexit
21/01/2021
Up to 200 trucks turned back a day for having wrong paperwork, MPs told.
Pricewatch: Shoppers waiting weeks for deliveries despite buying from Irish domains.
Brexit is forecast to do more permanent damage to the economy than Covid. But this self-inflicted wound can be healed.
Businesses that make sporting goods, children’s toys, jewellery and medical goods have struggled the most with the border costs imposed by the UK’s decision to leave the EU.
The Brexit bus promised the NHS £350m a week – but it’s British workers paying the price in higher taxes
06/04/2022
As Britons, not Brussels, foot the bill, many will be asking how a Brexit bonus turned into a tax bombshell.
In this film, senior FT writers and British businesspeople examine how Brexit hit the UK economy, the political conspiracy of silence, and why there has not yet been a convincing case for a 'Brexit dividend'.
The Brexiters who put their money offshore
09/11/2017
Some of the loudest voices in the debate – many of whom want the UK to be a tax haven – have their own offshore interests.
Figures on the cost of Brexit reported by ITV last week could have given a misleading impression of the cost of leaving the EU.
Section 55 of the Taxation (Cross-border Trade) Act 2018 states that: "It shall be unlawful for Her Majesty’s Government to enter into arrangements under which Northern Ireland forms part of a separate customs territory to Great Britain."
A study by the Centre for European Reform reveals the “troubling” cost of Brexit and says the losses are now too big to ignore.
The sound of silence - Chris Grey
14/02/2020
'For at the same time as attempting to relegate Brexit to distant memory, the government is also claiming all kinds of benefits from “having left the EU”.'
A large number of our readers have asked us to factcheck a list of claims about the Lisbon Treaty, or “what will actually happen if we stay in the EU”, which has gone viral on social media.
A post-Brexit deal should make it easier to build supermarkets, avoid tax and sue the UK, US business lobbyists say.
Greg Hands was asked why Michael Gove made the promise if it is now considered a bad move.
Trump administration threatens UK with tariffs if Boris Johnson imposes taxes on tech giants
21/01/2020
Digital services levy due to be imposed on web-based firms like Facebook and Amazon from April.
Trump administration ‘tells Boris Johnson to drop tax on tech giants’ to secure trade deal
04/08/2019
The Trump administration has made it clear to Boris Johnson that any post-Brexit US-UK free trade deal would rely on Britain dropping plans to tax large American tech firms, according to reports.
A weaker than expected recovery from the coronavirus pandemic has left the UK as the only G7 country with a smaller economy than in early 2020, according to official figures likely to further undermine the government’s tax-cutting measures.
Levy could raise €140bn, and energy ministers also set targets to cut electricity use.
UK officials admit some markets to be subject to duties under post-Brexit deal terms - FT
10/05/2021
Companies in freeports in Britain will not get to enjoy the full benefits of the new tax-efficient zones if they are exporting to certain countries including Canada, Norway, Switzerland and Singapore, the Financial Times reported on Sunday, citing government officials.
Listing sends signal that turning Britain into a low-tax island ‘will not be acceptable to the EU’.
The British government has been ordered to pay the European commission’s legal costs after being successfully sued for granting City traders a tax break without EU permission.
What is Kwasi Kwarteng really up to? One answer: this is a reckless gamble to shrink the state
27/09/2022
In the US they call it ‘starving the beast’ – cut taxes and, as revenue decreases, you create irresistible pressure for austerity.
Wine trade fury at Sunak tax plan that will force up prices and create ‘unworkable’ red tape
09/01/2022
Industry condemns ‘simplification’ of duty touted by Boris Johnson as key benefit of Brexit.
‘Brexit ruined my business almost overnight’: UK dealer says his income has plummeted by 60% since Britain left the EU
28/04/2022
Almost all of Steve Shovlar’s clients are based in Europe—but added taxes and red tape are putting them off.
Next boss, thinktanks and unions criticise Boris Johnson, saying ‘shortages cannot be blustered away’
‘Singapore on steroids’: Sir Martin Sorrell lays out low-tax, low-regulation vision for Brexit Britain
13/11/2019
Britain should become a “Singapore on steroids” economy with low taxes, low regulation and a renewed focus on trade with America after Brexit, according to Sir Martin Sorrell.
Sectors from fishing to aviation, farming to science report being bogged down in red tape, struggling to recruit staff and racking up losses for the first time.
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