United Kingdom: Prime Minister Proposes “Snap” General Election

Sovos
April 19, 2017

Prime Minister Theresa May has called for an early general election on June 8, claiming it’s the only way to guarantee certainty and stability in Brexit negotiations. The Prime Minister’s Conservative Party is currently polling far ahead of the opposition Labour Party, and her clear hope is that Conservatives will gain enough seats in Parliament to ensure approval of any final EU agreement.

Under the rules, an early election must be approved by two-thirds of MPs in the House of Commons before being called. Absent this approval, the UK’s next general election is scheduled for 2020 – well beyond the two-year deadline for Brexit negotiations to conclude. At this stage, it appears very likely that early elections will indeed occur as Labour leadership has already stated that they will not contest the issue.

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Sovos is a global provider of tax, compliance and trust solutions and services that enable businesses to navigate an increasingly regulated world with true confidence. Purpose-built for always-on compliance capabilities, our scalable IT-driven solutions meet the demands of an evolving and complex global regulatory landscape. Sovos’ cloud-based software platform provides an unparalleled level of integration with business applications and government compliance processes. More than 100,000 customers in 100+ countries – including half the Fortune 500 – trust Sovos for their compliance needs. Sovos annually processes more than three billion transactions across 19,000 global tax jurisdictions. Bolstered by a robust partner program more than 400 strong, Sovos brings to bear an unrivaled global network for companies across industries and geographies. Founded in 1979, Sovos has operations across the Americas and Europe, and is owned by Hg and TA Associates.
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