Brexit: Are You Prepared for No Deal?
The European Commission – while emphasising that it continues to work for a deal ensuring an orderly withdrawal – has called on governments and businesses to take action immediately to prepare in case no withdrawal agreement is agreed and ratified by 30 March 2019.
Examples of the consequences include:
- Citizens: no specific arrangement for EU citizens in the UK or vice-versa.
- Borders: application of tariffs and checks for customs, agri-food safety and compliance with product standards.
- Regulations: product certifications cease to be valid across the UK and EU.
- Transport: loss of operating licences.
- Financial Services: loss of passporting rights.Pharmaceuticals: marketing authorisations cease to be valid across the UK and EU.
- Personal Data: sufficient safeguards need to be in place each time data is transferred.
- Professionals: loss of recognition of qualifications.EU Funding: UK entities would cease to be eligible.
The prime minister, while making clear that the government is working for a good deal, has said that it will be issuing some 70 ‘technical notices’ in August and September advising companies and households on what they need to do to prepare.
How Dechert Can Help: Use our Online Tool
Recognising that many businesses are put-off by the sheer complexity of Brexit, we have designed an online tool that is free, quick, simple to use and covers all business sectors. Drawing on responses to a set of multiple-choice questions, it generates a printable overview of the impact of ‘No Deal’ on your business.
Try it, with no obligation, here »