After 47 years of membership the UK has left the EU. Britain no longer has any MEP's and we will play no further part in EU lawmaking. However achieving a Brexit deal is only the beginning. We have now entered an 11 month transition period allowing the government to negotiate our future economic relationship with the European Union. The EU has stated that it is unlikely that we will be able to successfully conclude all aspects of a trade agreement within this timeframe and as such certain aspects may be prioritised. 

In this month's Newsletter we offer some guidance on how to access the facts as we know them now. The UK Government has provided the following guidance. (This information has been taken directly from the UK Government Source and relates to actions that you can take now, that are not dependant on future negotiations.)

1. Preparing your business

From 1 January 2021 you will need to make customs declarations to move goods into and out of the EU. You should:

• get an EORI number if you do not already have one
• decide how you want to make customs declarations and whether you need to get someone to deal with customs for you.

2. Staying in the UK if you’re an EU citizen

Check if you need to apply to the settlement scheme if you or your family are from the EU, or from Switzerland, Norway, Iceland or Liechtenstein.

Check what you need to do to stay in the UK

3. Living and working in the EU

Living and working in an EU country depends on the rules in that country.

You may need to register or apply for residency. You should check that you’re covered for healthcare.

You may also need to exchange your UK driving licence for a licence issued by the EU country where you live.

Check what you must do in the country where you live

You can also check what steps you may need to take to get ready for the new rules in 2021 by using the transition checker.

There is a helpline available for businesses to access guidance and support operating between 8am-6pm Monday to Friday - 0300 2000 900.

Lastly many local authorities are offering free Brexit business support throughout the UK. As such it is recommended that you contact your local council and enquire what support they are offering at this time.

It is clearly early days, and many of the financial institutions and business support agencies have yet to provide up to date commentary and guidance. If you do discover a valuable resource please feel free to contact us and we will share it with our business community.

2020 will be a time of uncertainty for many businesses, following the recent departure from the single market.  The support of a part-time CFO can help you steer through the fog. Give me a call or drop me a line to discuss how we can help.