On 31st December 2020, the UK’s transition period for leaving the EU will end bringing with it significant changes to UK personal and commercial law. From employment law, immigration, and financial regulation, to property owned within EU member states, pre-nups, and divorce law, the impact of the UK’s departure from the European Union will be far ranging. Within this there is also the question of whether there will be a ‘deal’ or whether the United Kingdom will leave with a ‘no-deal’.
As a result, we recommend that any business or individual who may have links with the remaining 27 Member States, seek legal advice and make plans for every eventuality. Jarmans Solicitors have extensive experience in all aspects of commercial and personal law and are able to advise and represent businesses and individuals who may be affected by the UK’s departure. In all instances, we suggest a ‘better safe than sorry’ approach, seek advice now and make pro-active preparations as opposed to being forced to react in the future.
Brexit Commercial Law changes
The way companies do business is undoubtedly going to be impacted by the UK’s departure. Many UK laws are currently derived from EU legislation, so the effect could be widespread. Immigration and employment law changes could require employers to reconsider contracts and visa requirements.
For businesses with shareholders, particularly if they are resident in the EU, it is also imperative that shareholder agreements are reassessed. Smaller firms should also consider drawing up revised terms and conditions and privacy documents in line with new UK legislation.
Brexit Personal Law changes
UK withdrawal will have a significant impact on family law in cases where one partner is still an EU citizen and it is vital that you seek legal advice particularly if you have a maintenance order or child arrangement order in place, or are considering a divorce from an EU citizen. This could also affect pre-nuptial agreements, particularly where children and finances are included. We also advise that Wills which include property and investments based in the remaining EU Member States be reviewed.
While we are all in a certain state of uncertainty until we hear if an Agreement has been made, it is still advisable to prepare and be ready for any potential outcome. Our commercial and personal law teams are available to answer any questions, advise, and represent you. If you would like to speak to a one of legal team regarding the impact of Brexit please get in touch.