How to prepare yourself for Brexit?
The departure of the UK from the European Union, initially planned on 29 March 2019, is now extended till 31st October 2019 at last. At this new date, a transition period will begin provided that a withdrawal agreement is reached and ratified by the EU, the European Parliament, and the UK Parliament.
However, the options will be the same at the new date: either accept the 'new' deal negotiated with the EU or leave the union with no-deal and fall under the WTO’s rules. Other less likely options are to be considered: a second referendum or a unilateral revocation of Article 50.
However, if no withdrawal agreement between the EU and the United Kingdom is reached, there will be no transition period.
Do you wish to measure the possible impact that Brexit could have on your company? Make the BREXIT IMPACT SCAN !
Whatever form Brexit takes, what is certain is that on 1 January 2021, at the latest, commercial exchanges with the United Kingdom will be marked by customs formalities and border controls.
In a “No Deal” scenario, after the departure of the United Kingdom we can expect changes to the practicalities of trading with the country, such as the imposition of customs procedures and duties, in addition to potential changes in compliance standards for exported products.
For services, new measures limiting access to the market may be implemented. These would affect the ability of EU workers to settle in, or be posted to, the United Kingdom.
In this context, the European Commission has produced a series of “preparation sheets” for each sector of activity.
Financial incentives for exporters
But what if we see the glass as half full? Once the United Kingdom has officially left the European Union, it will be covered by funding for non-EU prospecting. Discover financial incentives for exporters here! Consultancy support is also available (e.g. legal advice).
In its capacity as the Brussels Agency for Business Support, hub.brussles is following the negotiations closely.
Any questions ? Please contact Nathalie and Mounif !
UK Geographic Manager
Tel : +32 02/800.40.74
Regional Economic and Commercial Attaché in London
Tel :+44 207/235.89.49
Or send a mail to firstname.lastname@example.org