29 June 2016 Law firm clients: UK vote to leave the EU could affect some law firms Law firms, like most businesses, should be aware that 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. As European Council President Donald Tusk has confirmed, however, 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. Businesses should, however, consider using the intervening period to assess implications and ensure they can effectively manage the transition, while employers should begin to develop their strategic approach to managing this change. Two EY Tax Alerts provide additional details: Tax Alert 2016-1112, prepared by Ernst & Young United Kingdom, and Tax Alert 2016-1108, prepared by EY's People Advisory Services group.
Document ID: 2016-1143 | |||||||||
