InsightsInsight - Commercial Law - POSTED: March 29 2018
One year to go until Brexit
Today marks exactly a year until the United Kingdom is expected to formally leave the European Union.
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The exit will be subject to an initial transition period, but 29 March 2019 will, we anticipate, be Brexit Day.
Recent weeks have seen a certain amount of progress emerging from Brexit talks, but many of the initial uncertainties following the referendum around what to expect in a post-Brexit UK remain.
To some extent, business are carrying on as usual as until the UK officially leaves the EU (and until EU regulations are repealed), UK companies must continue to abide by EU rules and regulations. To some extent they will be assisted by the transition period in place until the end of 2020. However, many companies are looking ahead to the end of the transition period and considering how they can prepare for the potential impact Brexit will undoubtedly have.
With some key features of Brexit outstanding, a Withdrawal Treaty yet to be ratified and a final deal yet to be reached, the focus over the coming year will need to be on the details so that businesses can firm up strategies for working in a Britain outside of the EU.
The Government has set out its plan for an exit from both the single market and the EU customs union but many questions still remain over the future role of the EU courts in Britain and the trade deals the UK will negotiate.
In October this year, the UK and the EU will meet to try to agree the terms of a Withdrawal Agreement and to declare a “framework for the future relationship”. All eyes will, therefore, be on this important summit to see if any of the much needed detail is forthcoming.
Stay up to date with the latest legal developments on Brexit via our Insight section.
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