The relationship between the UK and EU is now governed by the Trade and Cooperation Agreement, signed in December 2020. That agreement was ratified by the UK Parliament and applied provisionally from 1 January 2021 pending ratification by the EU. That was achieved in late April, with the Agreement taking full effect from 1 May 2021.
The deal has important effects, such as preserving the absence of tariffs and quotas on UK-EU trade. However, there are still a great many changes to the UK-EU relationship that businesses and other organisations must now navigate. Some vital issues remain to be resolved, including in relation to the practical enforcement of the Agreement and the end of the initial 'grace periods', as well as whether the EU will continue to permit the transfer of personal data to the UK beyond the further transition period agreed on that issue.
Our cross-practice Brexit Advisory Group has been addressing our clients' questions since the Brexit referendum in 2016, marrying pragmatic and informed thought from our leading EU and constitutional law practice with the expert views of our lawyers across all affected sectors and areas.
We can help businesses and other organisations understand the important issues that arise from Brexit and the new UK-EU relationship, and assess what they can do in response.
Our Brexit readiness checklist set out some of the key questions businesses needed to ask themselves to get ready for the end of transition. Almost all of these questions remain relevant notwithstanding that a 'no-deal' outcome was avoided.