The UK left the EU on 31 January 2020 and, shortly after, the country became preoccupied with coronavirus. With the lockdown easing, Brexit is starting to move higher up the agenda again. The UK has until the end of the year during the remainder of the transition period to do a trade deal with the EU and the Prime Minister Boris Johnson has pledged, in his inimitable style to put a “tiger in the tank” in the negotiations to reach a deal in time.
Whether or not the UK gets a good deal, there are going to be some key differences which will affect businesses including staff, tariffs, data flows and exchange rates. Even this close, it’s still too early to predict with certainty what the outcome will be. You need to plan now. You should also consider adding a clause to your agreements which allows you to adjust the terms should Brexit not be favourable to your business.
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