Brexit, assimilated law and tax

A Brexit and tax timeline

The EU referendum, exit day and the implementation period

On 23 June 2016, the UK held a referendum on its membership of the EU, with a majority voting in favour of the UK leaving the EU ('Brexit').

As of exit day (11pm on 31 January 2020), the UK ceased to be an EU Member State and no longer participated in the political institutions and governance structures of the EU. However, in accordance with the transitional arrangements provided in Part 4 of the Withdrawal Agreement, exit day marked the commencement of an 11-month implementation period (IP) during which the UK continued to be treated by the EU as a Member State for many purposes. The implementation period ran from exit day until IP completion day (11pm on 31 December 2020).

Shortly before the end of the implementation period, the EU and the UK came to an agreement on the future relationship between them on

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

TAKE A FREE TRIAL

Latest Tax News

Supreme Court rules VAT chargeable on success fees paid after VAT grouping severed (The Prudential Assurance Company Ltd v HMRC)

The Supreme Court has unanimously dismissed the appeal of Prudential Assurance Company Ltd (Prudential), ruling that VAT was correctly charged on success fees paid to a company called Silverfleet Capital Limited (Silverfleet) after it left Prudential's VAT group, even though the underlying services were performed while both companies were group members. The judgment clarifies that Article 64 of Directive 2006/112/EC (the Principal VAT Directive (PVD)), applies to contingent 'successive payments' like success fees, with the chargeable event occurring when payment crystallises rather than when services are performed. As well as summarising the decision, this News Analysis contains commentary from Flossie Skinner, Tax Assistant, at Joseph Hage Aaronson & Bremen LLP on the implications of the judgment.

Tax weekly highlights—11 September 2025

This week's edition of Tax weekly highlights includes: (1) the UK Supreme Court’s decision in Prudential Assurance Company upholding the decision that the success fees were subject to VAT, and (2) the High Court in Hotelbeds allowing the taxpayer’s judicial review claim.

Chancellor warned against cutting pension tax relief

Law360: Possible changes to pension tax relief rules that could be announced in the forthcoming autumn budget 2025 to raise additional revenue are fraught with risks for Chancellor Rachel Reeves and could break government manifesto commitments, Lane Clark & Peacock LLP (LCP) has said.

EU Court of Justice decides that transfer pricing adjustments can be taxable supplies for VAT (SC Arcomet Towercranes SRL)

Tax analysis: In SC Arcomet Towercranes SRL, the Court of Justice of the European Union (CJEU) found that transfer pricing adjustments can fall within the scope of VAT if there is a direct link between the services provided and the compensation received.