UUÂãÁÄÖ±²¥

Tax News

Brexit Bulletin—UK agrees to EU proposal extending provisional application of TCA until 30 April 2021

Published on: 23 February 2021
Published by a

Specialist Tax Regulatory Materials

news-detailpage-img

Article summary

The Prime Minister’s Office has updated its document collection for the EU-UK Trade and Cooperation Agreement (TCA), and associated agreements reached between the EU and UK at the end of the Brexit transition period. The newly added documents include an exchange of correspondence confirming the UK’s agreement to the EU’s proposed two-month extension to the provisional application of the TCA, pending ratification in the European Parliament. As interim co-chair of the Partnership Council under the TCA, Michael Gove signalled the UK’s agreement to the draft decision proposed by the European Commission, extending provisional application from 28 February to 30 April 2021. However, his response also noted the government’s expectation that there would be no further extensions beyond 30 April 2021, particularly in light of the ‘uncertainty’ that continued provisional application would create. Gove also noted the government’s view that, aside from adopting the decision to extend provisional application via written procedure, the Partnership Council and other institutional arrangements established under the TCA should not commence...

Jurisdiction(s): England, Northern Ireland, Scotland, Wales and European Union

Popular Articles

VAT on property disposals

VAT on property disposalsThis guidance note provides an overview of the VAT treatment of selling property that is located in the UK. The UK includes Great Britain, Northern Ireland and the territorial sea of the UK. The sale of any land or building located outside the UK is outside the scope of UK

14 Jul 2020 13:57 | Produced by Tolley Read more Read more

Corrections and amendments to the IHT account

Corrections and amendments to the IHT accountThis guidance note explains how to deal with changes to the taxable values in the original inheritance tax account.Why do amendments arise?When the IHT account is first submitted to HMRC, it is based on information available at an early stage of the

14 Jul 2020 11:20 | Produced by Tolley Read more Read more

Exemption ― insurance ― overview

Exemption ― insurance ― overviewThis guidance note provides an overview of the VAT treatment of insurance products and should be read in conjunction with the Insurance ― specific transactions and Exemption ― insurance ― brokers and agents guidance notes.Is insurance exempt from VAT?Supplies of

Read more Read more