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Brexit Means Business: here's what you need to know

Say what you will about 2020, but it’s certainly gone quickly. In a blink, we’ve gone from an official Brexit date that was just a speck on the horizon, to a deadline that’s pressing right up against our noses. As our year closes, so does the transition period, and we want to make sure you’re ready.
Wait, what’s going on?

This year has thrown a lot our way. What with the global pandemic, toilet paper shortages, and general 2020 mayhem, many have almost forgotten about Brexit. So, let’s refresh your memory.

You may recall the “Brexit Day” celebrations taking place on 31st January 2020, but this was actually just the beginning of the transition period.

Anti-climactic as this seems, a lot has been happening to prepare for our official break from the EU, and the transition period is ending as our year closes. So, on January 1st 2021, new rules for business with Europe come into play.

How does this affect you?

Now, this is the big question. The government guidelines state that you need to act now if you’re:

How it affects you depends on your business. It’s really important that you check as soon as possible to avoid any stresses in the new year. To give you a helping hand, the government has created a questionnaire, that provides a comprehensive list of everything you need to do to make sure your business can run smoothly in the new year.

More information

If you’re still feeling a little bemused by this information, gov.uk has resources that provide specific, detailed information regarding what you need to do to prepare for Brexit in business. Plus, if you want additional peace of mind that you’re not missing anything, you can sign up for email alerts as and when there are any important changes.

We’re Accountancy Cloud

At Accountancy Cloud, we help businesses turn financial chaos into clarity, using a blend of smart software and genius accountants. If you’re ready to transform your accounting, we’d love to hear from you. Get in touch today.

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