BREXIT: UK officially leaves the EU

February 1st, 2020: As part of the withdrawal agreement, the United Kingdom and the European Union will enter a transition period that would last at least until the 31 of December 2020.

• The UK is no longer part of the political institutions of the EU, nevertheless, EU laws are still applied during the transition period,
• UK-EU trade will continue without any changes or checks being introduced: UE single market and customs union are maintained
• At the same time, the United Kingdom and the remaining 27 European Union’s states will have to negotiate their future relationship, including the establishment of a trade deal.

According to the withdrawal agreement, an extension of the transition period is possible, for 12 or 24 months, only if both sides agree on it by 1 July 2020.

If the United Kingdom and the European Union fail to come out with deal by the end of the transition period, major changes for operators are expected (No-DEAL situation):

• Trade with UE will be governed according to the World Trade Organization ‘s terms (WTO)
• Return of customs formalities and border checks for goods: declarations for import, export, and transit at every exchange with the United Kingdom
• Issue of required authorizations prior to customs clearances for goods subject to special restrictions (health products, chemicals, health-related products, pyrotechnics)
• Restoration of sanitary and phytosanitary controls to import and export live animals, plants or animal products from or to the United Kingdom.
• Re-establishment of Security procedures: an entry summary declaration is an obligation for importing operators in order to check the goods that will enter the customs territory of the community.