To be honest, we were quite relieved when we heard that Britain’s decision on how to leave the EU had been postponed again. Admittedly, there is a good chance to walk a well-paved path to leave the EU with a deal and with enough time (until the end of 2020) to cope with all the changes.
Compliance. With numerous laws and regulations to abide by, it has become a sensitive word to be spoken with caution, especially around those responsible for it. Unfortunately, the GDPR and recent tax changes have only further fueled the anxiety of tax/finance managers and controllers.
Along with other business processes, taxation is finally well on its way to be highly automated. Being a typical ‘uncool’ back office activity, it just took a while longer. It may actually turn out to be a blessing in disguise to many Tax Managers who have been reluctant to adopt tax technology so far.
With a hard Brexit becoming an ever more serious option, a number of companies are moving staff to the continent. Others are taking less drastic action by reassessing their administrative systems in anticipation of the altered import/export situation.
Given the opportunity, some of you would instinctively put their money on bitcoins. After all, the extreme value fluctuations offer the opportunity to hit the jackpot. Or end up bankrupt. When the IT budget is at stake, no Tax Manager we know would to take this kind of risk.