EU referendum, brexit and the aftermath

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ElGonzo in reply to @Sumo

Take investment management firms as an example. Most of them have set up umbrella companies in Dublin and/or Luxembourg to service European clients whom for whatever reason cannot legally contract with a non-EU entity. Aside from that it's pretty much BAU. Look maybe I'm blinkered and totally wrong, but I just cannot see the demise of London as one of the top two global financial centres because of Brexit.

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christianSpaceman in reply to @ElGonzo

But in doing so (I believe, someone who knows can correct me) they've moved some / all of the capital out of the UK to that other country.
The UK can no longer get revenue from taxing it, or make decisions on the rules it has to abide by.

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hurricane_run in reply to @christianSpaceman

The tax paid will be on profit and how much this is will be determined by the transfer pricing scheme the investment manager operates.
The Basel 3/4 regulations won't change for banks in the UK in the medium term (nor Solvency 2 regulations for insurers).

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