BREXIT CORNER

In June 2016 the United Kingdom held a referendum which resulted in a majority vote to exit the European Union, which is currently scheduled to happen on the 31st October 2019. The discussion and debate continues on the future trading relationships that the UK will have with other countries as well as how the rights of EU citizens residing in the UK might change.

On the 12th July 2018 the cabinet of the UK’s Prime Minister, Theresa May, presented a proposal in a White Paper and the British government has also issued advice for businesses operating in the UK on how they should prepare for the instance that the UK leaves the EU with no deal.

With regards to the impact that Brexit could have on your business, the current ambiguity about what deal might be decided upon (if indeed any deal at all) has resulted that many companies are looking into scenario planning. Key uncertainties prevail with supply chain issues, changes to finding sources and border issues as well as impacts on tariffs, customs, staff and unemployment, as well as a whole host of other regulatory and legal decisions which remain to be made.

In this area of our website you will find relevant government publications on the subject of Brexit which convey the key developments which could be vital for your business to consider.

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