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24 June 2016

United Kingdom votes to leave the European Union

The decision by the voters of the United Kingdom (UK) to leave the European Union (EU) marks a significant change for the UK and for Europe. However, as European Council President Donald Tusk has confirmed, all EU directives and regulations, as well as the treaties themselves, remain in force in respect of the UK until it formally leaves the EU. Therefore, on a legal level, nothing has changed and it is not expected to do so for the time being. However, businesses should consider using the intervening period to ensure that they can manage the risks of transition and consider any opportunities that may arise from the new dispensation.

A Tax Alert prepared by Ernst & Young United Kingdom, and attached below, provides additional details.

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ATTACHMENT

Full text of Tax Alert 2016-1112

Document ID: 2016-1112

 

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