Wednesday night, the United Kingdom (UK) and the European Union (EU) agreed to an extension of the Article 50 deadline until the 31st of October 2019 at the latest. With this, the no-deal situation that was to occur in two days has been averted, including its ensuing negative consequences.
What does the postponement mean for the solution in the Dutch ports?
Portbase completed the modifications to its system before the 29th of March in order to facilitate the solution via the Dutch ports. So not much changes in that respect. The postponement however does give companies more time to prepare and to register. Various organisations in the ports will continue to communicate this message. There are still many (predominantly foreign) companies that need to register with Portbase in order to be able to continue to transport goods through the Dutch ports after Brexit.
Which dates need to be closely monitored?
The new deadline is now the 31st of October. On that date, there are 3 possible scenarios:
- If a deal has been reached on the 31st of October (or possibly earlier), the transition period – which runs until the 31st of December 2020 – will commence. During this period, the rules and laws of the EU will still apply in the United Kingdom;
- If no deal has yet been reached on the 31st of October, a no-deal Brexit may arise in which the UK immediately leaves the EU without any agreements;
- Lastly, a new extension may be granted by the EU.
June the 1st is another interesting date. If the British do not (want to) participate in the elections for the European Parliament on 23-26 May, the UK will leave the EU on the 1st of June – with or without a deal.
What should companies do now?
There is more time, but the possibility of a no-deal Brexit remains. We recommend that companies continue their preparations. June 1 and October 31 are dates on which the UK may still leave the EU without a deal. Because of this, it remains necessary that companies are prepared in time.
More information? Visit getreadyforbrexit.eu