Negotiations began on 19 June 2017 and initially focused solely on the conditions under which the United Kingdom would leave the Union. Significant progress has been made on budgetary issues and the treatment of nationals of both sides with a transition period to ensure that the United Kingdom remains de facto in the European Union after its institutional exit date of 29 March 2019. A draft withdrawal agreement on these points has been agreed to by both parties.
At this stage, the issue of border management between Northern Ireland and Ireland has yet to be resolved and is affecting the pace of the negotiations. However, in December 2017, the European Council agreed that the negotiations should enter their second phase, which concerns future relationships. This phase started with difficulty given the tensions within the British government itself about the nature of the future relationship.
At present, although a preferential relationship will most likely be established with the United Kingdom at the end of the transition period, it is understood that the United Kingdom will be a third country with respect to the European Union. Given these circumstances, businesses must continue to put in place action plans to manage the consequences of this situation in their best interests. In the future, it is the terms of the bilateral agreement which will govern relations with the United Kingdom, particularly as regards trade in goods, services, the right of establishment, human resources, taxation (VAT, groups), intellectual property etc. In certain cases, these terms may be similar to current conditions, but the United Kingdom will no longer be part of the EU internal market.
With its multidisciplinary approach, which is perfectly suited to a context as complex as Brexit, Fidal is providing its clients with relevant information on the progress of the ongoing negotiation process through its dedicated teams.
- On corporate flows (goods and services, personal data, human resources)
- On the supply chain (VAT, customs, excise duties)
- On tax group structure (passive income, tax consolidation)
- Commercial relations, distribution networks, competition rules
- (Re)negotiation, drafting, termination of contracts, anticipation of future fluctuations
- Dispute resolution, resolution clauses
- Redefinition of your location strategy in Europe (transfers of assets and headquarters, restructuring, M&A)
- Acquisition opportunities and strategy in the UK (M&A, financing, etc.)
- HR policy
- Immigration, retirement and social protection
- Matrimonial property regime, wealth structuring and estate planning
- Employment contracts
Whether you are French company developing or wishing to develop your business in the United Kingdom or a British company with interests in France, the repercussions of Brexit on your business are multiple and complex.
To assist you in this transformation, we have set up a dedicated team which can be backed, if necessary, by our UK partner law firm, Mills & Reeve, guaranteeing you:
- A proactive approach that takes into account future opportunities and constraints
- A response tailored to your organizational structure and needs
- A sector-based approach for financial sector players and, more generally, all regulated sectors affected by Brexit
- Access to the very best specialists