On Thursday 23^rd June 2016, a referendum (voting) is being held to decide whether the UK should leave or remain in the European Union (EU). The British, Irish and Commonwealth citizens over 18 residing in the UK are eligible to vote. The UK nationals living abroad who have been on the electoral register in the UK in the past 15 years are also eligible to vote.

The polls are set to be closed at 10 pm on Thursday, 23rd June 2016. Then, the votes will be collected from every polling station and the overall result will be declared at the Manchester Town Hall.

Speaking about the EU and Britain, the liaison between them started some decades ago. Britain joined the EU back in 1923. The European Union involved 28 countries located in Europe with objective to work together as a single market. However, exiting from the EU became highly publicised when David Cameron, Prime Minister of the UK, made a promise of an EU referendum. This promise is believed to be made within the peer pressure from the members of his own party. And, now the PM wants the UK to stay in the EU although the British public is evenly divided in this matter.

From businesses to immigration to jobs, leaving EU will certainly have both positive and negative effects on all of these sectors. Moreover, EU has also been one of the major influencers of the UK tax system. Thus, all of these changes will have some serious affect on the lives of both the British and foreign people working in the UK.

Few weeks forward, we all will know whether Brexit (the name Britain and exit) will happen or not. The final decision will definitely play very important role in Britain’s economy. Ironically, no any EU member country has left before, so time will tell whether leaving or staying in the EU is for best or worse.