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 during which negotiating parties need to reach a final withdrawal agreement. However, negotiations are not going very well.
As article 50 TEU contains a strict deadline, the lack of progress means that businesses must imperatively prepare for the worst-case scenario: a hard Brexit on 30 March 2019. It’s essential for companies to understand the risks and costs of a hard Brexit to their organisations and to develop a contingency plan.
Supporting your organisation
Regardless of the type of business activity, our Brexit team provides the following:
- Tailored Brexit preparedness workshop
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.
- Cross-disciplinary Brexit team
Assessing 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, product certification, corporate structure, regulatory, HR, workforce and global mobility/immigration, etc.) for potential risks and costs.
- Focus on risk mapping
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.
- Close cooperation on a cross-border basis
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, income tax, VAT, customs and/or other expertise.