What is happening with Brexit now?
Britain was scheduled to leave the European Union on 31 January 2020. The transitional arrangements will mean that EU Customs and Single Market rules will apply until the end of December 2020.
Some of you may have taken steps to plan for a ‘no deal’ Brexit on January 31. This would have meant major changes to the current trading rules. The good news is that this did not happen on January 31 and you can continue to trade under current rules until the end of 2020.
What happens after December 2020?
The UK and EU will now negotiate the future trading rules that will apply after the transition period. We'll keep you updated as we get more information.
Could there be a longer transition period?
The UK has the right to extend the transition period beyond December 2020 but the UK government has so far said it does not wish to do this. So it's best to plan on the basis that there won't be an extension to the transitionary period.
What should we do next to get ready for Brexit?
Brexit will definitely mean changes to trading rules once the transition period has ended. But we won’t know more until the UK and EU have agreed these. We’ll be monitoring the situation over the coming months and will keep you updated on the latest advice from the Government on what you need to do to prepare for Brexit.
Last updated: 4 February 2020