Brexit update

The UK left the the EU on January 31 but, for practical purposes, the effective Brexit day is December 31, 2020.

This is when the Transition Period is due to end.

The UK will no longer be in the EU Single Market or Customs Union and free movement will end. There will be profound consequences for businesses, especially those that trade with Europe or employ EU migrant workers.

Precisely what those consequences will be aren’t yet clear and they won’t become clear until trade negotiations between the UK and the EU are concluded. We’ll update you here when information becomes available.

What we do know is that the British government favours a Canada-style free trade agreement (more information here), which will allow for largely tariff-free trade but will require customs declarations and rules of origin compliance.

If the UK and EU can’t come to an agreement, then there will be tariffs too.

We’re advising businesses to plan for this outcome, which looks very much like the no-deal Brexit scenario we were advising businesses to prepare for in 2019.

The tools on these pages should help you put the processes and contingency plans in place to ensure your business adapts to life after Brexit.

 

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