Jonathan Ivinson Speaks with Dukascopy TV on Outlook for UK Tax Policies after Brexit
Jonathan Ivinson, a partner in Akin Gump’s tax practice, was interviewed by Switzerland’s Dukascopy Bank’s Dukascopy TV to discuss the fallout from the United Kingdom’s Brexit vote and what it might mean for UK tax policies.
Ivinson began by pointing out there continues to be uncertainty from the vote over how UK companies will be treated with respect to tax law. He predicted there will likely be a negotiation and “we will end up with things remaining pretty much where they are, but nobody knows that for certain.” If a UK company, however, can no longer in invest in a French company and be treated like any other European company, for example, “that could make a material difference to the return on investment . . . so that’s really the biggest downside risk at the moment.”
Addressing the outlook for the VAT, Ivinson predicted that Great Britain could “go down a different path to the rest of its former partners in the European Union.” In terms of corporation tax, he said there could be a “huge unraveling.”
Ivinson also discussed the outlook for alternative investment managers, noting that Switzerland has created an attractive environment for them over the last few years.