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Brexit

International Trade & Investment

The UK left the EU at midnight on 31 January 2020. A transition period is now in place until 31 December 2020. During this period all EU rules and laws will continue to apply to the UK. Virtually nothing will change for businesses or for the public. This will give everyone more time to prepare for the new agreements that the EU and the UK intend to make after 31 December 2020.

Current situation

On 17 October 2019 the UK and the EU reached an agreement on the conditions for the UK’s departure from the EU (Brexit), and on a transition period until 31 December 2020. The transition period will not be extended. The UK has said that it does not want an extension. The option of an extension was contained in the withdrawal agreement. The UK and the EU had until 1 July 2020 to agree on a possible extension.

New relationship between the EU and the UK

During the transition period the UK and the EU are continuing to negotiate their new relationship. This includes agreeing on how companies in the EU will be able to do business in and with the UK after the transition period. They will also negotiate on security cooperation.

The new relationship will only become clear when the negotiations are complete, at the end of the transition period. The new agreements will enter into force after the transition period, which will end on 31 December 2020. The EU countries must first approve these new agreements. If the UK and the EU are unable to reach agreement, there will be a ‘no deal’ Brexit. This will happen at the end of the transition period.

In any case the relationship between the UK and the EU will change. For example, there will be checks and more administrative procedures at the border between the UK and the EU. This includes declaring goods you import or export.

[ The above information is taken from the website https://www.government.nl/topics/b/brexit/brexit-where-do-we-stand ]

General Brexit information

For practical information about Brexit and regulations concerning Brexit, please check these online sources:

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