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Effects of BREXIT for UK companies & their directors

Discussion in 'Making Money' started by punkstar69, Jun 24, 2016.

  1. punkstar69

    punkstar69 Junior Member

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    Results of referendum are pretty sad, Brexit will affect all of us.
    Most of IM guys formed companies in the UK. Some of you are EU member states' citizens, some other not, some of you deal with EU citizens, some other dont.

    I personally run a UK business. As a EU member state citizen, I take advantage of benefits within EU for my company too. I pay my taxes in my country, paying my company's taxes in the UK etc. Taxation total is pretty big there and this is a good reason that im thinking about forming my company in another place, during the latest years, however, i havent done so. Brexit will make me run this faster than I thought since I deal with EU customers, which will be a problem soon.

    Now that british people decided to leave the EU, I thought that it would be a good idea to start a discussion regarding the negative effects of UK companies and their directors.
     
  2. TaAaZZ28

    TaAaZZ28 Junior Member

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    The British pound collapsed no less than 18 U.S. cents, easily the biggest fall in living memory, to hit its lowest since 1985. The euro in turn slid 3.2 percent to $1.1012 EUR= as investors feared for its very future.

    Nearly complete results showed a 51.8/48.2 percent split for leaving, setting the UK on an uncertain path and dealing the largest setback to European efforts to forge greater unity since World War Two.

    Sterling sank a staggering 10.1 percent at one point and was slumped at $1.3582 GBP=, having carved out a range of $1.3228 to $1.5022. The fall was even larger than during the global financial crisis and the currency was moving two or three cents in the blink of an eye.

    GG UK!
     
  3. laur.laurix

    laur.laurix Power Member

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    We will live and we will see. Everyone says brits made a huge mistake, I personally think so. this vote will affect business relations between UK and EU.
     
  4. Stansy

    Stansy Junior Member

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    Shocked to see leave edge out the win. You may have more time than you think though, isn't there a 2 year period in which UK and EU decide the terms of the exit?
     
  5. davids355

    davids355 Jr. VIP Jr. VIP

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    Out of caos comes opportunity. I think it will turn out ok guys, dont worry.
     
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  6. davids355

    davids355 Jr. VIP Jr. VIP

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    Yes that's right, although I have heard a lot of people saying that it could take up to 10 years to put all of the agreements in place.
     
  7. punkstar69

    punkstar69 Junior Member

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    Jp Mogan are downsizing and its not even 9am..


    Sure. However, things will never be the same again for the whole Union.
     
  8. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Jr. VIP

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  9. Stansy

    Stansy Junior Member

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    Out of curiosity, who do you think is next in line to leave?
     
  10. punkstar69

    punkstar69 Junior Member

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    Well, I believe that such things are not predictable.
    The inner fact is that democracy is over. EU will never be the same again. I live in Greece and we also voted LEAVE last year, however our corrupted political system <turned> this into 'STAY'. The final result was LEAVE but they never leaved at all. They were forced to stay so they tried to alter the main question of the referendum which was clear: in or out. All I believe after that, is that things will be done the way they are already scheduled, no matter what people vote.

    IMO, France/Italy comes next. Their people already ask for such a stay/leave ref. British ref's results will help in voting leave too.
    Oh boy, these are G5 countries. EU wont survive at all.

    Are we building nations or moving back, really?
    What a messed up world we live in?
    Things should getting better - its 2016 goddamn it! Such steps will move us back to 1800. Its really such a mess.

    I've seen crininality rate getting double in my country during the latest years due to austerity. Everything's possible - even a war. Look around, there are too many examples of what austerity can cause (ie Venezuela).

    We dont support staying in the EU for financial reasons. We are not billionaires or something. We are supporting it for obvious reasons.
     
    Last edited: Jun 24, 2016
  11. 001

    001 Newbie

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    Well, imo the problem is that some countries are already apart from the UE, i mean some don't even use the common currency (oh wait , like UK?) or the Shengen space and other big laws too. Everyone choose what they want from UE, where they can get benefits from it and just let the downsides to others. That's not how it should work and that's not how it works. So yeah basically imo UE will be splitted but there's still a chance that core countries can find an agreement of things that they will ALL do.
     
  12. islandman1010

    islandman1010 Elite Member

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    I voted Remain and I am gutted. The whole campaign on both sides was pretty shocking and to be honest there was a lot of people that really shouldn't have even been voting. They wanted to give the Government a bloody nose but this wasn't the vote to do it with. Overnight over £100 billion pounds has been lost here in the markets and the exit can take up to 9 years to finalise. There is a 2 year period where they have to try and agree how to unravel the whole setup but that can be extended for as long as needed. So that's even more uncertainty ahead. I look at it like this. We have gone for divorce but the woman (the EU) has got all the rich pickings. Are they really going to give us a friendly deal leaving. Not a chance.
     
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  13. punkstar69

    punkstar69 Junior Member

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    Well said.
    A partnership needs benefits from both sides. Quitting it with an unilateral decision, will lead to a big loss for your side. You just started a war against powers a simple citizen cant even imagine.
     
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  14. lancis

    lancis Elite Member

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    The Scots probably feel cheated now. They voted to be a part of bigger alliance (EU), UK was just the "necessary evil". Looks like now its no longer necessary, and the UK might fall apart as well.
    Then Frexit, Finexit, Danexit... and finally UAenter. :)
     
  15. islandman1010

    islandman1010 Elite Member

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    The problem with the Scots is that they want to be in the EU. The Scots are also part of the UK that makes us Great Britain. All those people who voted to leave the EU were fighting to "get Great Britain back" But if the Scots now decide they want to remain in the EU (they have been told they don't need to apply and can keep the £) then Great Britain will no longer exist. They have unleashed an ill thought out monster.
     
  16. jimbobo2779

    jimbobo2779 Jr. VIP Jr. VIP

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    If you look into the deal that Scotland currently have with they UK concerning their tax, law and political setup I think you would realise they don't really have much choice but to remain in the UK. If they were to leave the UK to become part of the EU it would likely be worse off monetarily.

    As far as leaving the EU is concerned I really don't see how it will hurt the UK in the long run. Sure there will be the people that are shitting their pants due to the fear propagated in the campaign and there may be short term losses but give it some time and when all of the deals are in place we will have very few down sides.

    There are towns in the country that have been ravaged by immigration and a town close to where I live had the highest Leave vote ratio as a result of this. Some people may feel there are potential downsides to leaving the EU but there are lots of people that are living with the downsides of being in the EU today. When you are dealing with the downsides day in and day out it is hard to persuade that some potential downsides to city folk is enough to remain in the EU.

    Ultimately nobody knows exactly whether it will be good or bad but I know for a lot of people in my area and the surrounding area will be better off without the EU. Whether other people in the country are better off or not is not really of any concern.
     
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  17. punkstar69

    punkstar69 Junior Member

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    Not a UK citizen here, but allow me to disagree. My personal opinion is that leaving EU will hurt. Much. If choice was about entering EU or no, i would also vote no. But being a part of EU for such a great period and deciding to leave will cause chaos. I agree that it will be better after 10 or 20 years, but there are many downsides until then, many British people will be affected due to the nature of their jobs, etc.

    Such negative decisions do cost more. EU found a clever way to make UK sterling less valuable for the upcoming years.
     
  18. islandman1010

    islandman1010 Elite Member

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    I do agree with you. The problem is we have to go now and ask the EU what trade deals they will give is. 50% roughly of all our exports go there with 0 taxes and tariffs. Basically they are our customer and they will decide if they will apply taxes etc to UK industry. We buy goods from them too but only about 15%. So if you have politicians having their own trade war they can damage almost half our economy and we can only damage 15% of theirs. Not a good negotiation point. Just saw that the Bank of England is having to put £250,000,000,000 in to the economy this morning to stop the slide. It will just take a long time to sort out the mess, getting new trade deals all over the world etc. Cameron was an idiot to cal it.
     
  19. mirrorer

    mirrorer Jr. VIP Jr. VIP

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    This is GBP. Daily candle

    [​IMG]

    It dropped 1780 pips in a day!! The average daily move is 70-100 pips.

    If you ask me it looks like smart money knew what will happen.

    Since Monday open,it goes straight up. It looks like some people were filling/piling on their short order before the big turn.That drop equals to billions,hard sell off of GBP.
     
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  20. marccs7

    marccs7 Junior Member

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    There are many pro's & con's to 'brexit' but it will not affect long term trade as the UK spends more on export than import so why would it?!