Brexit update: March of uncertainty
Preparing for the U.K.'s exit from the EU
With less than a month until the Brexit deadline and no agreement in sight, the future remains uncertain. RSM Chief Economist Joe Brusuelas shares the most important issues and considerations for companies that do business in or with the United Kingdom, as it prepares to leave the European Union.
BREXIT & THE U.S.
Feedback from middle market business leaders in the recent RSMUS LLP Middle Market Business Index (MMBI) indicates that many believe the Brexit deal will be extended. Our chief economist, Joe Brusuelas, cautions organizations to take steps today, regardless of the March 29 outcome.
Whether your organization operates in the U.K. or not, Brexit has the potential to impact you in several ways. According to Brusuelas, every business should:
- Stress test balance sheets
- Examine supply chains, including license and registrations
- Ensure foreign exchange lines are open
- Manage budgets
- Communicate with talent
Preparing for uncertainty requires careful evaluation of possible scenarios. RSM advisors can help you plan confidently for the impact of global change, whether Brexit or beyond.
you may also be interested in
The Brexit decision will no doubt have far-reaching impact. Get the RSM perspective on the middle market here and abroad.
For companies moving goods between the E.U. and the U.K., there are practical steps to take now to improve your readiness for a hard Brexit.
Watch our March 7 webcast, which covered the practical steps you can take now to improve your readiness for a hard Brexit.
Companies in the U.K. face withholding tax on intercompany interest, royalties and dividends from related parties in the EU.
In a time of transition for the global economy it would make sense for the U.S. and the U.K. to engage in a free trade agreement.