The UK and the EU are now two distinct regulatory and legal markets, creating opportunities as well as barriers to trade in goods and services, mobility and exchanges. For the UK to continue its trading association with the EU into the future, a provisional agreement will govern the relationship until all parties have concluded the legislative processes.
A Trade and Cooperation Agreement (TCA) is in now place between the UK government and the European Commission, effective as of 1 January 2021. This replaces the transition agreement that expired on 31 December 2020, the UK having previously left the EU on 31 January 2020.
Your business is likely to be having to adapt and make changes to your operations as a result of leaving the single market. You are probably up to your eyeballs in such issues as customs, people and recruitment, data protection and regulatory compliance – areas that most of you won’t have had to think about before now.
It is a complex area, with the official TCA document running to some 1,200 pages (read our pocket digest here), but our Brexit Impact team is here to guide you through it all. Businesses that remain agile will thrive.
If you would like more information, please get in touch using the form below.