One of the most significant developments since the May examination was the result of the Brexit referendum.
Whatever the UK does in response to this, there will be implications for the tax system.
All the computations in the exam will be based on the rules we have covered in the Module, but, when considering any tax planning, you need to be aware of how things might be different in the future.
The tax I might ask you to consider explicitly in the exam is Value Added Tax.There will not be many marks available, but it will allow those of you who have been keeping up-to-date with wider tax issues, the opportunity to gain some credit for your broader appreciation.
Here are some short articles to give you an idea of the possible impact of Brexit:
What Brexit could mean for the UK tax system – Tax Journal, May 2015
Brexit and VAT – Bishop Fleming, June 2016
UK VAT post-Brexit: initial thoughts – Tax Journal, June 2016
BREXIT: tax implications of vote to leave the EU for UK real estate – Pinsent Masons, July 2016
David
AC3600 