A no-deal Brexit is a real cause for concern across most sectors, following the overwhelming rejection of Theresa May’s Brexit deal on 15 January 2019. In addition to the various no-deal notices that have been issued by the UK government, at the end of December 2018 the European Commission announced that it would implement its own no-deal Contingency Action Plan in relation to citizens’ rights, financial services, data protection and trade.
If the United Kingdom leaves the European Union on 29 March 2019 with no withdrawal agreement or political declaration in place, it will be treated as a third country for legal, regulatory, political and economic purposes from the moment of exit. This update considers the implications of this for various aspects of business.
Commercial contracts
