Brexit: UK urges businesses to prepare for end of transition

Source : 112 Ukraine

Business need to take action whether or not a trade deal with the European Union is clinched
08:30, 11 October 2020

The Telegraph

On Sunday, October 11, the UK government urged businesses to prepare for the end of the Brexit transition. It was reported by Reuters.

"With just 81 days until the end of the transition period, businesses must act now to ensure they are ready for the UK’s new start come January," business minister Alok Sharma said.

The Business Ministry argues that most of what businesses need to do is the same regardless of the outcome of the negotiations and has planned a series of sector specific webinars in October.

Related: Brexit is done: United Kingdom leaves European Union

Businesses needed to do things like ensure staff register for residency rights and prepare for customs procedures when trading with the EU, the government said.

Prime Minister Boris Johnson said Britain won’t extend the transition period, which ends on Dec 31, and that progress must be made to bridge significant gaps between the two sides in the coming days if a deal is to be struck.

"There will be no extension to the transition period, so there is no time to waste."

As we reported, the United Kingdom officially left the EU on January 31, but Britain's informal EU membership will end on December 7.

Related: UK leaves EU: What Brexit means for London, Brussels, and Kyiv

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