The fallout from the UK’s divorce from the EU could significantly impact your business, now and in the long run. Do you have a Brexit strategy in place?
The only thing that’s certain is uncertainty. Details of a UK - EU trade agreement (if any) expected to be inked over the 2020 transition period are anyone’s guess, so you should (continue to) prepare for both a deal and a no-deal outcome. It’s crucial to (re)assess your company’s readiness and develop and implement a Brexit strategy that covers all aspects of your business at risk of being disrupted by Brexit: supply chain, finances, tax, compliance, governance, IT, HR, legal, operations and more.
Is your tax model still optimised? What are the trade tariff and transfer pricing implications? Are your contracts up to date? Will your workforce be affected by new immigration rules? Do you need a UK VAT or Economic Operator Registration and Identification (EORI) number?
The ripple effect of Brexit will reach every corner of your business - the time to act is now.
No Brexit strategy in place? You risk severe interruptions to your business and a corresponding loss of revenue. You need to be ready to do business with the UK under a new set of rules in less than a year, and failure to have the appropriate measures in place could be detrimental: major disruptions to your supply chain could occur due to goods being held up at the border, VAT and customs rules will change and you could face regulatory and compliance issues, particularly within highly regulated industries such as finance and pharmaceuticals.
You could face immigration red tape with your workforce, loss of funding, increased pricing, and the list goes on. If you don’t have a Brexit strategy, your business could be at risk.
Our multidisciplinary PwC Legal Brexit team draws on deep expertise and experience to work with you to develop and implement the Brexit strategy that’s right for your organisation. We’ll assess your Brexit readiness, identify the factors most likely to affect your business and estimate their potential impact. Our Brexit specialists will then help you determine and execute your customised Brexit strategy to mitigate the risks and minimise the interruption of business.
Do you lack the time and/or resources to effectively implement your Brexit strategy? PwC Legal’s managed services may be the solution. Our dedicated specialists work alongside you as part of your team, in whatever capacity you require: finance, tax, VAT, customs - we apply best practices throughout your Brexit transition, freeing up time for you to focus on your core business.
Our core Brexit team takes a holistic approach to cover every facet of your organisation impacted by Brexit, everywhere you do business. We’re a team of highly experienced tax, international trade, employment and finance lawyers that have been helping organisations prepare for Brexit since it first made headlines in 2016.
Using our proven Brexit methodology, our strong and effective relationship with our PwC colleagues and PwC-developed landmark digital solutions, we’ll assess your readiness and provide your organisation with the resilience to navigate the uncharted waters of Brexit, from Strategy through Execution.
As 31 December approaches and the Brexit transition period comes to an end, you should be aware of what this implies for UK citizens currently employed in Belgium. From an immigration perspective, it implies that UK nationals who are not protected by the withdrawal agreement will be treated the same way as other third-country nationals from 1 January 2021.
To evaluate if you’re ready for the post-transition period, we invite you to try out our free assessment tool. The tool allows you to evaluate the progress you’ve made and identify what further measures are required to prepare your business and employees for the upcoming changes from an immigration perspective.