Do you understand the risks and costs of a hard Brexit to your business? What’s your contingency plan?
The Brexit clock is ticking.
On 29 March 2017, the UK officially notified the European Union (EU) of its intention to leave the EU. This notification triggered the two-year delay of article 50 TEU in which negotiating parties need to reach a final Withdrawal Agreement.
However, negotiations are not going very well. As article 50 TEU contains a hard deadline, the lack of progress means for businesses that it’s become imperative to prepare for the worst-case scenario: a hard Brexit on 30 March 2019.
It’s essential for your business to understand the risks and costs of a hard Brexit on your organisation and to develop a contingency plan.
An in-house workshop during which a multi-disciplinary team of experts will provide you with an update on the current state of the Brexit negotiations and during which they’ll host an interactive discussion on the impact of Brexit on the various aspects of your business.
Assessing the financial impact and the risks for your business from a worst-case-scenario perspective (hard Brexit on 30 March 2019) and scanning all aspects of your business (supply chain, operations, VAT, customs and excise duties, direct taxation, contracts, IP, data protection, trademarks, GDPR, product certification, corporate structure, regulatory, HR, workforce and global mobility/immigration, etc.) for potential risks and costs.
A Brexit assessment should always lead to a tailor-made map of all the risks for your business in relation to Brexit, including probabilities, costs, urgency and the time needed for implementing a contingency plan to mitigate the damage.
Our Brexit team works closely with the various business units in your organisation on an international level to work as cost efficiently as possible and to allow you to closely monitor the project.
During our Brexit assessments we will, where appropriate, leverage the services available within PwC for specialised supply chain, HR law, migration, income tax, VAT, customs and/or other expertise.