The possibility of a UK exit from the European Union without agreement brings us closer to the immediate evidence of a tough Brexit.
All this despite opposition from British employers and business associations (CBI. Confederation of Business Industries) representing more than 200,000 companies in the UK are claiming against this possibility, having made Prime Minister Boris Johnson known his full opposition to this possibility of exit without agreement.
BREXIT CHALLENGES FOR UK COMPANIES
UK companies face three challenges from now on:
- Rebuilding the economy after the first wave of COVID-19
- Dealing with the second wave of the virus
- And the uncertainty of the UK’s trade relationship with the European Union.
Let us not forget that this exit will entail the treatment of the United Kingdom by European countries as a third country, and the economic flows between the two sides will be mere import and export.
BREXIT CONSECUENCES POR BRITISH COMPANIES OPERATING IN SPAIN
British companies operating in the territory of Spain, with work centres or establishments, will need to have an infrastructure of qualified professionals who know spanish operation and regulations and by European extension.
The possibility of own staffing departments becomes difficult for small and medium-sized enterprises, due to their high maintenance cost.
One solution that is appropriate to evaluate is the possibility of outsourcing these services with companies specialized in the field of administrative, tax and accounting management.
The company can have a complete Management department, capable of solving the day-to-day of its activity in Spain.
SERVICES YOUR COMPANY WILL NEED AFTER BREXIT
All this services will make up the financial administrative management of the company. Services such as:
- Preparation of financial information adapted to Spanish regulations
- Audit of Financial Statements.
- Managing payments to suppliers
- Search for financing alternatives for operations.
- Sales tracking and control of customer collections.
- Preparation of monthly reports with the results of the period, suitable and designed according to the needs of the company.
- Preparation of your Spanish accounting data adapted to British accounting regulations in order to consolidate parent-subsidiary data.