The UK left the European Union on 31 January 2020.
Following this, there is now a transition period, which is due to last until 31 December 2020.
During this period, all EU rules and regulations continue to apply to the UK, meaning that in practical terms, neither businesses nor individuals will see major changes.
The transition will allow trade agreement talks to continue; in particular negotiations for a free trade deal with the EU to ensure that UK goods are not subject to tariffs and trade barriers after 31 December 2020.
After 31 January 2020, the UK will be free to negotiate and sign new trade deals with countries that have no existing EU deals, for example USA.
At Clay Shaw Thomas, our expert team are here to help businesses prepare for the future.
Although continuing trade negotiations mean continued uncertainty for businesses, we can work with you to ensure the right safeguards and securities are in place to protect your business going forward.
We can advise on:
- Advising overseas businesses and investors investing or starting up in the UK
- Corporate restructuring, business expansion and investment
- International tax planning
- Company formation
- Supply contracts
- Variations of existing contracts
- UK and international joint ventures including shareholders agreements
- Finding customers overseas for your products or even your business
The Government has also published a number of resources to help businesses understand how Brexit will affect them.