Our experts identify the key issues to consider as the UK prepares to exit the EU.
On 23 June 2016, 17,410,742 people in the UK voted to leave the European Union. Three and a half years later, several deadlines have passed and we are still waiting for decisions to be made about how the UK will depart from the EU.
With Brexit now postponed until 31 January 2020, trade talks are set to begin in the new year which could have two different outputs: the UK will default to World Trade Organisation tariffs or will establish a new deal with the EU. Agreements are yet to be reached on many matters, from immigration and border controls and defence and security cooperation to the proposed regulatory framework, state aid, and research and innovation programmes across the EU and UK.
Amid the ongoing uncertainty, it is important to remember that until an exit date arrives, EU law will continue to apply in this country. If a deal between the UK and the EU is signed by 31 January 2020, a transition period will follow until 31 December 2020 during which EU regulations will remain in force in the UK.
Businesses should however already be considering how Brexit may affect them and putting appropriate measures in place well in advance of an exit date. These will be dependent on the sector and the cross-border nature of the organisation.
Below is a series of briefings produced by some of our practice area and sector teams on the implications of the UK’s decision to leave the EU for businesses and private individuals. If you need direct support in planning for the likely impact of Brexit, please speak to your usual Penningtons Manches Cooper contact in the first instance.