Brexit update - extension to 31 October

Susie Walker

Susie Walker

Partner and Head of Tax and Brexit Team

The UK’s ambassador to the EU, Sir Tim Barrow, has today written to Donald Tusk confirming the agreement of the UK Government to the extension of the period under Article 50(3) for Brexit day to 31 October 2019. 

Meantime, Theresa May remains determined to get her deal through Parliament. How she’ll unlock the position to achieve this without significant changes to the terms of her deal remains to be seen, but at least for now the risk of a no deal is put out to grass for a few months.

The ongoing uncertainty for UK business is not a good place to be and the longer it goes on it makes strategic planning and decisions difficult to call.

Our recommendation is to continue to plan for a no deal exit.  HMRC continue to make provisions to ease the pain of a no deal and regular announcements are coming out.

All businesses, not just those directly involved in importing and exporting throughout Europe, should carry out a Brexit health check to prepare their business for change. Visit our dedicated Brexit page to download a copy of our planning tool.