“WHAT! …We voted to GO!” Now what’s going to happen?

The referendum on 23 June determined after much speculation that  the UK will leave the EU and was followed by an immediate resignation of our Prime Minister. The immediate financial fallout has been as dramatic and unwelcome as expected. The long term position will be unknown for years. What is certain is that there will be change and uncertainty for some time to come which will have an effect on clients business whether they are based in the UK and trade internationally or are based abroad and trade or invest in the UK. Those who are well advised and well prepared commercially for these new circumstances will be best protected  from what could otherwise be a myriad of issues that could potentially get in the way of their business and affect profitability.

The Governor of the Bank of England says there will be no changes in the way we trade or the way goods are sold. Is he right? Do you have contracts with companies in the EU that you are worried about? Do you employ EU migrant workers in the UK or have UK workers in an EU country? How will existing EU treaties be affected in the short and medium term? These are just some of the questions that will need to be answered for many.

UK policies and legislation will change as they do you are likely to need advice and guidance on how best to adapt in your business, whether it has direct trading arrangements with EU companies or not and we are here to help .

The UK will not leave the EU for a minimum of two years while negotiations take place. During this time we can help you with your plans for the future taking account of the different challenges you might face. It may be UK  employment issues, Immigration, restructuring, tax or advice on commercial contracts you have in place with other companies in the EU. We have lawyers in all of these departments to give guidance as the country moves through this tumultuous period of its history.

 

Tony Mead

Senior Partner

DWFM Beckman