As we await the outcome of the Conservative leadership race, the Brexit talks between the UK and the European Union have been paused - for now.
Whether a deal is agreed or not, it's worth understanding what the implications might be for financial planners, and whether there will be changes to the way people in the UK are taxed.
In this video, Technical Connection's Tony Wickenden runs through the backdrop and the possible scenarios at play.
He says while tax rules are broadly aligned across the EU, little progress has been made across the member states on imposing common standards.
If and when the UK leaves the EU, there may be scope for the government to introduce lower rates in a bid to make the UK more attractive to businesses.
Yet Tony highlights that while negotiating an exit deal will be a significant milestone, there still needs to be an agreement on future relations with the EU.
He adds all this points to major pensions and tax changes being off the table for now. Brexit remains the focus, and it's not over yet.
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