Jurisdiction(s):
United Kingdom

Key definition

IP completion day definition

What does IP completion day mean? The point in time marking the end of the Brexit implementation (transition) period for UK legal purposes. In practice, it is the trigger date used in UK statutes, statutory instruments and contracts to determine when EU law stopped applying and when UK amendments took effect. It is defined in legislation: section 39 of the European Union (withdrawal agreement) Act 2020 fixes “IP completion day” as 11.00 p.m. on 31 December 2020 (UK time). Key legal effects include: establishing the snapshot for “retained EU law” under the European Union (Withdrawal) Act 2018; altering the supremacy and direct effect of EU law as...

Tax information exchange: UK and international mechanisms, scope and limits, confidentiality, rulings and HMRC practice

Published by a LexisNexis Tax expert

Practice notes

What is exchange of information?

Exchange of information (EOI) among tax authorities has long stood as a key pillar of international co-operation in tax matters. In more recent years, growing levels of public and governmental concern about perceived tax avoidance—at both the individual and the corporate level—have elevated the subject still further, ensuring that EOI has become a centrally important (and arguably more effective) cross-border anti-avoidance measure. There are numerous regimes and instruments pursuant to which authorities such as HMRC exchange information relating to taxpayers with overseas tax authorities, in accordance with those frameworks. The primary focus of this Practice Note is the approach to EOI taken under double tax treaties or conventions (DTTs), although the other principal platforms through which EOI operates are also summarised. In most cases, DTTs contain a specific provision dealing with the exchange of information, and that provision is often based on Article 26 of the Organisation for Economic Co-operation and Development (OECD) Model Tax Convention (MTC)...

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Web page updated on 22/05/2026

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