The result of the December 2019 general election has ended the Brexit stalemate in Parliament. The UK's departure from the EU on 31 January 2020 (and end of the transition period only 11 months later on 31 December 2020) means that businesses now have greater clarity on the Brexit timeline, after three and a half years of uncertainty.
However there is still much that remains unknown and preparing for the changes ahead remains challenging for businesses. The detail of a long-term UK-EU trade deal needs to be negotiated and we don’t know how comprehensive it will be or if agreement can even be reached, leaving the prospect of a ‘no deal’ scenario at the end of the year still very much a possibility. The result? While 2020 will see significant milestones in the Brexit process, businesses will still have to monitor developments closely. It is only when businesses have certainty around future trading conditions that they will be able to make strategic plans with confidence.
At Shoosmiths, we have stayed close to developments and have welcomed discussions with our clients to help them with their preparations and risk analysis on Brexit.
We are also producing regular briefings across all specialisms to keep you informed of legal changes anticipated in light of Brexit.
Our most popular cross-service client briefing ‘Brexit -preparing for all eventualities’ summarises the main legal implications of Brexit across a number of disciplines and sets out steps that businesses can take now irrespective of the nature of any future trade deal. It can be downloaded here.