Mitchell Charlesworth on Brexit

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The UKs decision to leave the EU will inevitably lead to a prolonged period of uncertainty, and naturally, most businesses will be concerned about the ramifications, including:

  • How Brexit will affect EU funding of not for profit organisations?
  • Will the social housing sector rally as a result of potentially higher mortgage rates?  
  • Will it delay the introduction of the digital tax regime and impact on wider tax policies?
  • Will it affect accounting rules and legislation?

These are but a few questions that we are not yet able to answer, but rest assured that we will keep you abreast of the ramifications once the dust has settled, and the possible impact upon our clients becomes known.

Clearly, this is not a time for rushed decisions.  It is anticipated that the United Kingdom will remain in the EU for a minimum of a further two years, with some political commentators suggesting it could be a lot longer whilst the negotations concerning the UKs extraction from the EU take place.  During this period, the UK continues to be a UK member, and subject to the laws of the European Union.

We've compiled a round up from various industry bodies and other leading authorities for perusal below:

CBI comments on UK vote to leave the EU:
"The British People's vote to leave the EU is a momentous turning point in our history".

Social Housing:
"Housing associations would be less impacted by ‘Brexit’ than other public sector bodies"

Invesco Perpetual:
"The EU referendum has increased volatility and depressed risk taking by investors"

British Chambers of Commerce:
"In the wake of the electorate's historic decision to leave the European Union, the immediate priorities for UK business are market stability and political clarity."

Please don't hesitate to contact your usual Mitchell Charlesworth advisor, or send us an email.


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