The EU/UK TCA: tax and customs (Timothy Lyons QC writes for Tax Journal)

The seven parts of the UK/EU trade and cooperation agreement create a new world for customs and tax lawyers which will exist alongside the Ireland/Northern Ireland Protocol. The institutional framework necessary to support the TCA is extensive and is likely to be expanded. The tariff and quota free area which is created is buttressed by many complex provisions, including those on origin. Direct tax is affected by good governance, mutual assistance and subsidy provisions. Money laundering rules must also be considered. Both EU/UK and GB/NI relations will continue to be the subject of debate. Future uncertainty is certain.

Timothy Lyons QC (39 Essex Chambers) provides some initial analysis for Tax Journal of the UK/EU trade and cooperation agreement that will create a new world for customs and tax professionals.

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