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The UK left the European Union (‘EU’) on 31 January 2020. A transitional period, during which the UK is no longer a member of the EU but is still subject to EU rules and remains a member of the Customs Union, concludes on 31 December 2020. The UK’s future trading relationship with the EU remains subject to negotiation. Irrespective of the outcome of the negotiations, whether that be with or without a deal, there will likely be significant changes for many UK businesses. But this is not just a concern for UK businesses, Brexit might also impact overseas entities doing business with the UK, as well as groups with substantial UK operations.
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