United States

Brexit and the middle market

Following a four-month campaign, the United Kingdom on June 23, 2016, voted by the narrowest of margins to end its 43-year membership in the European Union (EU). The Brexit decision will no doubt have far-reaching impact. But what does it mean for middle market companies in the United States? And what does Brexit look like today versus when the vote passed in 2016?

For U.S. companies with operations in the U.K. or those that move goods through the U.K. understanding the potential impacts of Brexit are important to consider. Looking at the following areas of your business are important:

  • Stress testing balance sheets around financial shocks and budgetary matters
  • Securing supply chain needs
  • Assessing plans to ensure the flow of goods and delivery of services
  • Reaffirming banking and foreign exchange lines
  • Assessing productivity and efficiency needs to adequately prepare for a shock to the domestic economy
  • Considering contractual and regulatory changes that may affect the ease of doing business with the U.K.
  • Taking other precautionary measures for exigent circumstances

At RSM, we are closely watching the developments in the U.K. and the greater European market, and conversing with our counterparts at RSM member firms worldwide. Our international team is poised to assist middle market companies with navigating this new frontier in the global economy.

Check out the latest insights on Brexit:

The UK shrinks the scope of DAC6 reporting

The UK shrinks the scope of DAC6 reporting

UK government provides relief from DAC6, reducing the scope of reporting for UK intermediaries with cross-border transactions.

  • Ramon Camacho, Andrew Seidler, Melanie Gulden
  • |
  • January 19, 2021
Brexit and company taxes – what happens from Jan.1, 2021?

Brexit and company taxes – what happens from Jan.1, 2021?

A look at the impact of Brexit on tax treaties and on the operation of tax law internationally in the new year.

U.S. Sellers and global ecommerce: Indirect Taxes in 2021

Join our webcast to learn about the unique challenges U.S. businesses face when engaging in online sales of goods and services overseas.

  • October 29, 2020
2020 year end tax considerations for businesses

2020 year end tax considerations for businesses

Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.

  • Patti Burquest, Anne Bushman, Nick Passini
  • |
  • October 15, 2020
Brexit is finally happening: What VAT actions to take before Dec 31?

Brexit is finally happening: What VAT actions to take before Dec 31?

Key actions companies doing business in the United Kingdom should consider as the UK’s transitional period with the EU comes to an end.

  • Steve Butler, Simon Kelly, Mark Ludwig
  • |
  • October 06, 2020

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For more insights from the UK visit the Brexit resource center at RSM UK.