Skip to main content

Brexit and (re-) structuring your business in case of a "no deal"

A common lament that is heard in business circles is how hard it is to find focussed, practical and straightforward advice  as to what measures should be taken to structure or re-structure one's business to address the consequences of a possible "no deal" Brexit.

Whether or not this is historically true, it is clear that, certainly in the UK , Government is now stepping up its public information campaign to try and guide businesses along the way.

On 8th August 2019, the UK Department for Business, Energy & Industrial Strategy published new guidance on cross- border business operations, cross-border mergers and the status post-Brexit of  two specific European legal structures in which UK -based businesses may have participated, namely, the Societas Europaea and the European Interest Grouping. 

The message from the new guidance  unsurprisingly is that if UK businesses are taking advantage of EU procedures ( such as the EU Cross Border regime) , they should hurry up and complete them before Brexit day because steps taken  but not competed before Brexit  may be of no legal effect after Brexit.

Much of the UK Government's guidance on the implications of a "no deal" Brexit has  been collected in its updated webpage: "Prepare for EU exit".

Both the  UK and EU authorities have indeed been developing their own bodies of "Brexit" guidance to help businesses under their respective areas of control prepare for Brexit. This is accessible online by using the following links:-

GOV.UK - Brexit

European Commission: Brexit preparedness.

It is recommended that these links be monitored regularly for updates.

An active public information campaign should help to re-assure businesses (particularly SMEs) that they are not being left abandoned in dark and unchartered waters.