Brexit centre

The decision of the UK people to leave the European Union is one of the most significant events to occur in the history of the EU. Because of our geographic, social and economic ties with the UK, Ireland will experience the greatest impact of this decision among EU countries. The land border makes the situation particularly onerous. Ireland currently operates a trade surplus with the UK and customs checks and controls are increasingly likely.

Chartered Accountants Ireland

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Brexit

The European Commission has proposed changes to the EU’s VAT rules, in preparation for the end of the transition period with the UK on 31 December 2020. The amendment to the VAT Directive introduces a special identification number for businesses in Northern Ireland, so that EU VAT provisions can be properly applied to goods, in line with the Protocol on Ireland / Northern Ireland.  Under the Protocol, EU VAT legislation will continue to apply to goods traded in Northern Ireland. This broadly means that goods sold and transported from Northern Ireland to the EU (and vice-versa) will be treated in the same way as cross-border supplies of goods within the EU.  This includes VAT exemptions and deductions. The provisions will not apply to supplies of services in Northern Ireland. UK VAT rules will apply after the transition period. Supplies of goods and services made elsewhere in the UK will also be subject to UK rules for VAT. For more information read the European Commission’s update.

Aug 10, 2020
Brexit

The UK government has released a collection of papers that sets out how HM Treasury intends to use the powers under the European Union (Withdrawal) Act 2018, to ensure that the UK will have a functioning financial services regulatory regime in all scenarios when the UK leaves the EU.  For all Brexit updates, visit www.charteredaccountants.ie/brexit

Aug 10, 2020
Brexit

The UK government has released further details on how the new points-based immigration system, set to kick in on 1 January 2021, will operate. In the latest statement, the UK government has reiterated the immigration status of Irish citizens, confirming there will be no change to their rights to enter, live and work in the UK without requiring permission. There will continue to be no routine immigration controls on travel from within the Common Travel Area to the UK, and no immigration controls on the land border between Northern Ireland and Ireland.This statement includes further information on:The requirements of the points-based systemSalary and skills thresholds for skilled workersA route for students and graduatesWho can apply?Visiting the UKOther immigration routes

Aug 10, 2020