Prepared for Brexit?
Prepared for Brexit? Brexit is here. Brexit has been somewhat overshadowed, partly, of course, because the Corona pandemic has taken most of the attention in 2020. But we were probably also many who were waiting for some form of exit agreement for the UK. As it was a hard Brexit Accountor's Advisory team gathered around the issue. Accountor has gathered information for companies of what you should keep track of before Brexit and now. We have previously written about some topics that we link to below. There is a lot to be gained from being prepared, after the turn of the year the UK is no longer a part of the EU.
Brexit income tax
After 31 December 2020, the United Kingdom is no longer a part of the EU. The same rules then apply to the United Kingdom as to all other non-EU countries.
In the field of taxation, there are some EU directives that regulate and harmonize certain situations for EU Member States. After leaving the EU, the UK are no longer bound by these EU directives. This primarily affect Groups that have companies in the UK. When EU directives can no longer be applied, you have to go to the double taxation agreements that exist between e.g. Sweden and the United Kingdom.
Parent / Subsidiary Directive
Means that a dividend from a company in one Member State to another company in the same Group but in another Member State shall be exempt from withholding tax. The directive also allows a tax relief for parent companies that take profits from their subsidiary.
Interest and Royalties Directive
Means that payments of interest or royalties from a company in one Member State to another company in the same group but in another Member State shall not be subject to withholding tax.
Means tax relief for reorganizations within groups within the EU.
Prepared for Brexit - HR
British citizen in Sweden or Swedish citizen in the United Kingdom
There are many Swedes who study, work and live in the UK and vice versa.
British citizens who move to Sweden after 31 December 2020 are covered by the same rules as other third-country nationals and cannot apply for residence status.
Read more about what applies on the page Brexit - immigration and social insurance.
Sweden has had an agreement with the United Kingdom on social security since 1988, and negotiations are underway on what applies after Brexit between the United Kingdom and the EU. Read more about social insurance and the effects of retirement.
Brexit, what does it mean for companies in Sweden?
Dealing with companies from the UK as a supplier, a subsidary or customer is not the same after Brexit.
Residence requirements after Brexit
If you have employees in your company who are resident in the UK, this can have consequences for your company. Read more here about residence requirements and what it can mean for your company.
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