United Kingdom and the Europe Union entering final stage of divorce battle
03 October 2019
Absent a further extension of the deadline, the United Kingdom and the Europe Union officially entered the final stage of their divorce battle. With only 1 month to go, the UK’s prime minister will present his final masterplan for Brexit to Europe this week including a firm message that this is the final proposal. If the EU is not open for discussion, the UK will cease negotiations and the UK will leave the EU on October 31st (i.e. a no-deal or hard Brexit).
Last week, the newspaper 'De Tijd' also reported that, in the meantime, 42 companies have chosen Flanders as primary European hub to retain post-Brexit access to the European market resulting in 2.000 new jobs and 2.2 billion EUR of (new) investments. Discussions with another 136 companies are ongoing.
It cannot be stressed enough, Brexit will have a material impact on businesses operating in or with the UK. Whatever the size of your business, you should be assessing the impact of no-deal on your supply chains, workforce, VAT registrations, trade processes and cashflow to ensure they are robust and prepared for Brexit.
Consider your options and read our guide on “How to prepare for a no-deal Brexit?” or consult BDO UK’s Brexit Hub including their comprehensive checklist of 10 immediate actions that will help you prepare your business for a no-deal Brexit scenario.