As the political debate over Brexit continues to rage on, one of the South West’s leading firms of accountants is taking practical steps to ensure businesses are able to continue trading with the EU regardless of whatever deal is finally struck.
Through its membership of a top international accountancy network – MGI Worldwide – Milsted Langdon will be working with its colleagues in Dublin to help UK businesses set up Irish registered subsidiary companies that will allow them to continue enjoying the current trade arrangements with the EU.
A team of accountants from the firm, which has offices in Taunton, Yeovil, Bath, Bristol and London, recently met with their colleagues in Ireland to flesh out the arrangements ahead of the UK leaving the Union in March 2019.
Simon Rowe, Partner at Milsted Langdon, said: “Companies who trade with the EU are understandably worried about the effect that Brexit will have on their ability to trade.
“A simple solution for many could be to set up an entity within the EU through which they can continue to trade with their overseas customers in case no deal is achieved or the deal agreed restricts trade. This is why we have strengthened our bond with our fellow MGI members in Ireland to help businesses prepare.”
As part of the service Milsted Langdon will help to incorporate an Irish registered company with all the necessary tax registrations and banking arrangements.
“If the UK does get a ‘good deal’ it is fairly straightforward for the company to be struck off at negligible cost,” said Simon.
“However, if it is required then businesses will be ready to go and they won’t get caught in the inevitable delays which will occur as businesses who haven’t planned ahead rush to follow suit.”
Milsted Langdon believes that a number of businesses could benefit from this service and hopes that those with a large customer base in the EU will consider utilising the firm’s expertise and connections through MGI Worldwide to ensure they enjoy continuity in trading regardless of the outcome of Brexit.
To find out more about Milsted Langdon’s unique Brexit services, please visit www.milstedlangdon.co.uk