Preparing for Brexit
May 15, 2020

Michael Chadwick - Brexit adviceBeing prepared for the unknown

There is much ongoing uncertainty in the country right now and this has the potential to impact all aspects of our lives, from what we buy, to how we work and travel. Any sort of disruption to the economy, however big or small, will have a knock-on effect to business. At this point, any surety on the future shape of the UK outside the EU would be welcome, to help bring stability and trust.

As accountants, we are not entirely sure how the final deal with Europe will affect us – because we don’t yet know how it will affect business. But with so much uncertainty, you can be assured we’ll be looking at the  possible impacts and what it will mean for you. Company owner, Michael Chadwick, discusses this in more detail.

The impact of Brexit

Accountancy will feel the impact by how it affects our customers, and whether positively or negatively, the effects will be different for different industries. If Brexit goes ahead, this could be anything from a change in sales, to a company relocating to another country. There are some guarantees that laws and legislation will initially remain the same and on the level of tax that will be paid, however there are many other uncertainties for business right now.

If we leave with a deal, there will be less economic disruption. But a no-deal could bring more problems – for example with VAT, cross-border trading, customs and the way companies are paid – which would be reflected in a business’s accounts.

A safe pair of hands

I established Chadwick & Company over 35 years ago and have seen a great deal of change over the years. The company and my team have adapted to whatever changes have come about – moving from paperwork to the digital technology of today and beyond. We are keeping a watchful eye over Brexit as it unfolds and assessing the implications for our clients. When it comes to your tax, accountancy and financial matters, you can rely on us as a safe pair of hands, whatever shape the future turns out to have.

For more detailed advice on how we can help you, please email or call us on 0161 370 9600.

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