Brexit round-up – 15/11/19
15th November, 2019
Welcome to this, our latest Brexit round-up. Each week we provide a succinct round-up of the latest news surrounding the Brexit process, so you can keep abreast of the issues which are likely to affect your organisation.
Fact check on claims over EU tax rules and Brexit timing
The past year has seen a growing number of claims that the recent anti-European shift is a result of new tax rules to come into force within the European Union. The legislation in question is the EU’s Anti-Tax Avoidance Directive (ATAD), which attempts to ensure big digital companies and other multinationals pay enough tax. However, this week a report by the BBC clarified that the rules of the ATAD are already part of UK law. The report concedes that a small number of the rules will not come into effect until 1 January 2020, however this implementation would occur regardless of the UK’s European membership.
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Brexit uncertainty “too risky” to place Tesla plant in UK
Tesla’s chief executive, Elon Musk, has announced that Berlin will be the site of its first major European factory as part of the carmaker’s expansion plan. Mr Musk chose Germany ahead of the UK for its first Tesla factory due to Brexit uncertainty. The chief executive told Auto Express that “Brexit [uncertainty] made it too risky to put a gigafactory in the UK.” Berlin will host Tesla’s research and development base, with Mr Musk explaining his choice that “Everyone knows that German engineering is outstanding and that’s part of the reason we are locating our gigafactory Europe in Germany.” The announcement comes after Mr Musk told the trade publication in 2014 that he wanted to build a plant in the UK.
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If you have any questions about any of the issues which are raised, or would like to discuss your own organisation’s options in the lead-up to Brexit, please do not hesitate to get in touch.
Please note that this briefing is designed to be informative, not advisory and represents our understanding of English law and practice as at the date indicated. We would always recommend that you should seek specific guidance on any particular legal issue.
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