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At the moment the UK Competition and Markets Authority (CMA) enforces the European Commission’s Treaty on the functioning of competition within the European Union. New Competition Law would potentially need to be imposed which would set a new framework for businesses to consider.
This would have a substantial impact on businesses considering potential merger/acquisition activity as it would create uncertainty. What would be acceptable now would not necessarily apply in the future. This needs to be considered in light of the international proposed standards or the harmonisation of taxes to avoid big businesses evading Corporation tax.