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How to prepare yourself for Brexit

How to prepare yourself for Brexit

On 29 March 2017, the United Kingdom notified the European Council of its intention to leave the European Union. Do you have trading relationships with British companies? Contactour experts and assess the potential impact of Brexit on your business!

The departure of the UK from the European Union, initially planned on 29 March 2019, is now extended till 31st October 2019 at last. At this new date a transition period will begin provided that a withdrawal agreement is reached and ratified by the EU, the European Parliament, and the UK Parliament.

The options will be the same at the new date: either accept the ‘new’ deal negotiated with the EU or leave the union with no-deal and fall under the WTO’s rules. Other less likely options are to be considered: a second referendum or a unilateral revocation of Article 50.

However, if no withdrawal agreement between the EU and the United Kingdom is reached, there will be no transition period.

Given the current uncertainty, prevention is better than cure. And at both Belgian and European level, measures have been put in place to support you.

The FPS Economy, SMEs, Self-Employed and Energy has developed a tab on its website entirely dedicated to BREXIT: its context, its consequences, the issues arising from it…

You wish to measure the possible impact that Brexit could have on your company?

Discover also the FEB recommandations here.

New formalities

Whatever form Brexit takes, what is certain is that commercial exchanges with the United Kingdom will be marked by customs formalities and border controls.

In a “No Deal” scenario, after the departure of the United Kingdom we can expect changes to the practicalities of trading with the country, such as the imposition of customs procedures and duties, in addition to potential changes in compliance standards for exported products.

For services, new measures limiting access to the market may be implemented. These would affect the ability of EU workers to settle in, or be posted to, the United Kingdom.

In this context, the European Commission has produced a series of “preparation sheets” for each sector of activity.

Financial incentives for exporters

But what if we see the glass as half full? Once the United Kingdom has officially left the European Union, it will be covered by funding for non-EU prospecting. Discover financial incentives for exporters here! Consultancy support is also available (e.g. legal advice).

In its capacity as the Brussels Agency for Business Support, hub.brussles is following the negotiations closely.

Any questions ? Please contact Nathalie and Mounif !

Nathalie Stefanovic

UK Geographic Manager

Tel : +32 02/800.40.74

Mounif Kilani

Regional Economic and Commercial Attaché in London

Tel :+44 207/235.89.49

Or send a mail to brexit@hub.brussels

Questions about customs ? Only one address!

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