Getting Ready for the End of the Transition Period

The UK left the EU on 31 January 2020 and is currently in a transition period until the end of 2020 while the UK and EU negotiate additional arrangements. During the transition period, current rules on trade, travel and business for the UK and EU will continue to apply. The following resources provide advice and information to help businesses prepare for the end of the transition period.

Leaving the EU and workforce planning

The EU Settlement Scheme is designed to offer EU, non-EU EEA and Swiss citizens living in the UK before the end of the transition period the opportunity to protect their residence in the UK.

The Home Office has published an employer toolkit to help equip employers with the tools and information to support EU citizens and their families to apply to the EU Settlement Scheme.

Business planning

The end of the Brexit transition period will mean significant differences in how UK businesses operate and trade. The following resources can help your business prepare.

The ICAEW has published a checklist about the key issues business owners need to consider to prepare for the end of the transition period. It has also published a range of other practical guides for business.

There are other useful resources available to help businesses understand how leaving the EU will impact their firm, including the tax and legal issues that could arise. For example, Deloitte has published a useful toolkit, while BDO has put together a Brexit planning guide.

Support for exporters

Exporters should start preparing for the end of the Brexit transition period as soon as possible. We’ve brought together some resources that can help you get started.

i2i Infinity has published a Brexit Toolkit to help exporters understand how Brexit will impact international trade. The British Chambers of Commerce has published guidance to help importers/exporters understand whether they need an EORI number as a result of the UK leaving the EU.

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