The United Kingdom continues to be a member of the EU as well as the Common Market and the Customs Union. This situation will persist at least until the end of March 2019, i.e. the end of the two year negotiation period stipulated by Article 50 of the Treaty of Lisbon which governs the withdrawal of a member state from the Union. As such, therefore, no changes to the legal and regulatory environment have taken place yet for UK businesses and foreign businesses trading in and with the UK. Just as it is currently unclear what form Brexit will take (soft or hard or, perhaps more likely, a degree of hardness in between), it is also unclear what changes to the legal environment will occur.
Nonetheless, businesses are understandably concerned about the future and increasingly approach us for advice. The following is a brief overview of key points and questions that we have come across in advising on matters of current significance in the context of Brexit: