A busy Brexit month ahead

Susie Walker

Susie Walker

Partner and Head of Tax

As Brexit day approaches on 31 January, momentum continues to build as the final hurdle has been passed - the European Parliament has ratified the Withdrawal Agreement Bill, after the heads of the European Commission & Council signed their consent earlier in the process. In the UK the Queen approved the bill following parliamentary approval.

The UK will now formally leave the EU on 31 January at 23:00 GMT, at which point we will enter a transition period where we will abide by EU rules until 31 December 2020.

What now looks likely is:

  • A transition period that will run to 31 December 2020.
  • During the transition period most EU law will continue to apply to the UK.
  • The future EU-UK relationship will be formally negotiated through the transition period.
  • At the end of the transition period the Withdrawal Agreement Protocol on Ireland/Northern Ireland will come into effect. This Protocol seeks to avoid a hard border in Ireland, with Northern Ireland required to remain aligned with the EU on certain rules.   

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