The United Kingdom officially withdrew from the European Union on 31 January 2020. This does not mean that everything changed overnight, as the UK and the European Union agreed on a transition period, at least until 31 December 2020.
During this period, almost all the provisions of the European law will continue to apply to the United Kingdom, including those relating to taxation.
Therefore, during this transitional period, BREXIT is expected to have little impact on companies. This would obviously be very different in the event of a “no-deal” at the end of the transition period.
It is therefore of utmost importance for companies to prepare themselves to face all scenarios, as soon as possible!