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Budget & Brexit: strategies and opportunities for businesses in the UK

  • The annual workshop organised by Belluzzo International Partners covered the latest developments in tax and legal matters, discussed by highly qualified experts in the field and business leaders

  • The event was introduced by Massimo Carnelos, Counsellor for Economic and Commercial Affairs of the Embassy of Italy in London, and The Rt Hon Steve Barclay MP, Chief Secretary to the UK Treasury

Following the presentation of the UK Budget 2021, the annual workshop of Belluzzo International Partners was held this morning, in the form of a webinar. The event, organised in collaboration with the Embassy of Italy in London and now in its 12th edition, covered the most recent developments in tax and legal matters.

Building on the plan outlined by the Chancellor of the Exchequer, Rishi Sunak, on 3rd March, and the subsequent publication of the Finance Bill 2021, the workshop provided an overview of the key measures designed to support the country’s economic recovery, as well as an in-depth analysis of the repercussions of the changes in the fields of tax and business.

Enriched by a high-level speaker’s program and a lively panel discussion, the webinar also addressed some of the most pressing issues for Italian companies and professionals in the UK, who have been facing the combined effects of Brexit and the pandemic.

In this context, the introductory keynote speech delivered by The Rt Hon Steve Barclay MP, Chief Secretary of the Treasury, who brought the voice of the British Government to the event, was received with great interest and attention from all participants.

The Counsellor for Economic and Commercial Affairs of the Embassy of Italy in London, Massimo Carnelos, opened the first session which saw Ian Rogers, QC, a barrister at Monckton Chambers, give a presentation on “Opportunities and challenges after Brexit: navigating the new legal framework”.

The second speech, given by Alessandro Umberto Belluzzo, founding partner of Belluzzo International Partners, provided a detailed overview on the tax and legal updates of the 2021 UK Budget. It was followed by a presentation on how to navigate Brexit from an import and export standpoint, delivered by Silvia Bocchetti, Head of Accounting at the firm.

The workshop ended with a roundtable, chaired by Luigi Belluzzo, founding partner of Belluzzo International Partners, which explored how the Italian business community in the United Kingdom is responding to the challenges posed by Brexit. The top-level debate featured Emanuele Preve, MD of Riso Gallo, Andrea Ceglia, MD of Max Mara, Luca Botter, Director of Botter Spa, Natalino Mongillo, MD of EOS Investment Management and Maurizio Bragagni, Chairman and Ceo of Tratos Group.

In his closing remarks, Alessandro Umberto Belluzzo commented: “As Massimo Carnelos and Steve Barcley highlighted, and I thank them for the clear message of continued cooperation between Italy and the UK, the relationship between our countries stays strong. This has also been demonstrated by the recent debate on the fiscal system. The UK remains open for business and represents an ideal destination for Italian companies who want to grow in international markets. While Brexit has introduced a new set of rules, the 2021 Budget offers strong incentives to businesses. Thus, we need to be prepared in order to seize market opportunities and adapt to the new scenario”.



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