Brexit impact on contracts, data and legal issues

Following the UK’s departure from the European Union, ICAEW Insights has the latest on how this affects the sensitive issue of data protection.

7 December 2020: What should UK companies – and particularly SMEs – be concerned with in the countdown to the end of the Brexit transition period? Staffing, extra costs and contract terms are the three big questions, says Paul Samrah, Partner in Moore Kingston Smith.

16 November 2020: The Chancellor has set out the government’s plans to make the UK a world-leader in green finance and financial technology.

9 November 2020: A National Audit Office report on UK border preparedness for the end of the Brexit transition period has concluded that while progress is being made, significant disruption is likely, as many traders and third parties will not be ready for new EU controls.

30 September 2020: As the Brexit transition period nears its end, businesses in the UK and EU face a number of VAT issues that need to be addressed, says indirect tax expert Stephen Dale, FCA.

If your business is contemplating a transaction early in 2019 – before or after the UK’s exit from the European Union (EU) on 29 March – you should be aware of possible arrangements that may come into effect at the date of exit.

When the transition period ends on 31 December 2020, the UK will become what is known as a ‘third country’ by the EU. This means UK organisations or individuals cannot assume they can continue to process the personal data of EU data subjects in the same way as now.

October 2020 update on data protection and Brexit – what you need to know and how to prepare your business.

Much Brexit guidance is concerned mainly with trade in goods, but there are a variety of other areas of EU law that also affect business. Our Know-how guides gives you a framework to understand these implications. It will be particularly relevant for services businesses seeking to assess how they are impacted.

Country-by-country guides aimed at UK businesses providing services and travelling for business. They cover trade regulations, ownership of companies, business travel and entry requirements, recognition of professional qualifications, and GDPR.

A summary of key changes to UK intellectual property law after the transition period ends, including changes to IP rights such as trade marks, designs, patents and copyright.

Government guidance on what businesses need to do regarding data protection and data flows with the EU after the end of the transition period. It includes information on receiving personal data from the EU/EEA and already adequate third countries, personal data flows from the UK, personal data provisions in the Withdrawal Agreement, and GDPR.

Legal Guide from Herbert Smith Freehills covering the key issues that will affect businesses in the UK and its trading partners in the coming months. Notifications of updates to the guide are available by signing up to their Brexit blog. 

Updates and guidance from international law firm Simmons & Simmons on how to navigate the challenges of adapting to the post-Brexit world.

Guidance and resources to help organisations prepare for the end of the transition period

PWC recommends preparing for the end of the Brexit transition period by analysing your existing contracts and keeping in touch with your most important partners to find out how Brexit is affecting them and the steps they are taking to prepare.

Checklist from UK law firm Travers Smith on how to brexit-proof your contracts covering definitions, pricing, compliance, change control, relief events, termination, data protection, governing law and dispute resolution.