"Brexit" News for Business

March 6, 2017

The Prime Minister has announced that there will be no immediate change to the movement of goods and people in and out of the United Kingdom (UK) from the EU.

 

We are still a member of the EU until Article 50 of the Treaty of Rome is invoked. We will therefore continue to engage in EU business as normal and be involved in EU decision-making in the usual way.

 

Once Article 50 is invoked we will remain bound by EU Law until the terms of our exit from the EU have been determined. During this time we will not be involved in decision-making. The period between invocation of Article 50 and our eventual exit from the EU is expected to last at least 2 years.

 

 

 

So, the first thing to remember is that little will change in the immediate future.

 

The UK government will invoke Article 50 at some point, this will then trigger the negotiating processes.

 

During this time the UK remains part of the EU and goods will continue to move free of customs clearance formalities and import duties. Depending on the outcome of discussions and negotiations between the UK and EU, it is likely that some kind of Free Trade Agreement will be arranged and therefore goods will undergo some form of customs processes both at export and import from and to the UK, from and to an EU member state.

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