Countdown to Brexit
At 11pm GMT on 29 March 2019, the UK is due to relinquish its membership of the EU. Although time is short, the terms of the UK’s withdrawal remain unclear.
Will the date of departure be pushed out? An extension may be granted, but only if the UK seeks one and the remaining 27 EU Member States are unanimously agreeable. Will a ratified Withdrawal Agreement be in place to manage the UK’s transition out of the EU? It remains to be seen whether a deal acceptable to both the UK and the EU can be brokered and agreed in time; or will the UK ‘crash out’ with no transitional arrangements in place? The possibility cannot be discounted that an agreement will not be reached on the UK’s exit terms.
Is your business ready for Brexit?
Businesses are faced with uncertainties in relation to, for example, supply chains, customs and tariffs, export and import markets, regulatory compliance and co-operation, and retaining and attracting staff. As with the unprecedented challenges posed by Brexit, the unprecedented opportunities cannot be overlooked.
The impact of Brexit on businesses operating in the UK or EU markets cannot be predicted with accuracy. The European Council has reiterated that it wishes to retain the UK as a close partner going forward however, until the exact nature of the UK’s exit arrangement is agreed, there are no certainties.
Firms must continue to assess the potential impacts of Brexit on their business and the sector in which they operate. Planning for the post-Brexit environment now can minimise disruption, mitigate the risks, and position the business to exploit potential opportunities of Brexit from day one. This task is made more difficult by the fact that the exact nature of “Brexit” is changing on a regular basis.
To help you prepare, ByrneWallace’s dedicated multi-disciplinary team can advise on the possible legal and regulatory implications of Brexit and offers expert-led guidance to both Irish and international clients.
Our Services & expertise
Our lawyers offer significant international experience, travelling regularly to the UK, US and other international markets, advising local business and law firms around the legal implications of doing business in Ireland. Some of our team have qualified in the UK and have practised under the local legal system, and are therefore well positioned to be able to consider the key aspects of doing business after Brexit.
Outlined below is a list of the key areas which businesses, depending on the nature of their operations, should addressed as part of their preparation for Brexit. Under each heading, we have highlighted the main issues, opportunities and risks to be considered and may impact upon your business:
- Commercial Contracts
- Corporate Governance
- Data Protection & IP
- Energy & Natural Resources
- Financial Services
- Immigration, Employment & Pensions
- Life Sciences
- Litigation & Dispute Resolution
- VAT & Customs
We will continue to monitor and update on developments in the countdown to Brexit and thereafter. Our publications on Brexit can be accessed here. To register for our Brexit Mailing list, please email email@example.comFor more information or advice on what Brexit will mean for you and your business, contact a member of our Brexit team or your usual ByrneWallace contact.