After another tumultuous week in UK politics, it’s time to take stock on where we are and what the implications are for businesses.
Following the vote in the House of Commons against no deal, it is clear that there is no will in Parliament for the UK to leave the EU without a deal on 29 March 2019.
However, that is not the end of the story as unless the UK is able to negotiate an extension to the article 50 notification, or the current Withdrawal Agreement is passed by the House of Commons in a third meaningful vote next week, there could still be a no deal exit on 29 March.
Businesses which trade in goods with the EU should still therefore have plans in place to deal with no deal on 29 March, while keeping an eye on the news over the next week in case developments mean that the UK’s exit will be delayed.
Businesses which import goods into the UK from the EU and the rest of the world can now check what the UK duty rates will be for their goods if the UK leaves the EU without a deal:
The rates can be viewed on the government’s website.
If you wish to discuss the implications for your business of a no-deal Brexit, please contact Wendy Andrews or your usual Bishop Fleming advisor.