Okay, I'm not going to try to explain HOW that would come about, just that it happens by 1936, and that when WW2 starts... the US doesn't have the UK to enter.
Now, if the US still enters, how will things change? I'm guessing the war gets dragged out longer because there's no where to put troops in Europe, hence the need to invade. In addition, the Soviets will need a lot more aid to combat the Nazis, if they can't improve their OTL performance(to be fair, unlikely to be surprised, because they know where the Nazis will invade without the UK Axis oriented.)
Again, how the UK goes Fascist I'll leave up to you.