12
Sat, Jul
62 New Articles

Checklist for businesses to prepare for Brexit

Checklist for businesses to prepare for Brexit

Hungary
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Every single business that trades with the UK, both in goods and services, will be affected by a “no-deal Brexit” scenario, i.e. the withdrawal of the UK from the EU without an agreement. On 4 September 2019 the Commission published a “Brexit preparedness checklist”, to provide information and to help enterprises conducting business in the EU and/or in the UK to double-check their state of preparedness.

The Commission highlights in its communication that it is the responsibility of all stakeholders to prepare for all scenarios of Brexit, i.e. the withdrawal of the UK from the EU with or without a withdrawal agreement. Given that a “no-deal” scenario remains a possible outcome, the Commission strongly encourages all stakeholders to use the extra time provided to ensure that they have taken all necessary measures to prepare for Brexit.

The checklist contains the most common issues and relevant aspects that may arise as a consequence of a withdrawal without an agreement. It deals with three main topics, including (i) Placing goods on the EU market / exports, (ii) Provision of services in the EU and (iii) Other relevant aspects, in particular: VAT, trademarks & designs, contracts and personal data matters.

The above checklist is non-exhaustive, additional guidance may be found from the ‘Brexit preparedness notices’ published by the Commission Services and information by national authorities.

By Adrienn Megyesi, Attorney at law, KCG Partners Law Firm

Hungary Knowledge Partner

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa, and Asia Pacific. This positions us to help clients with their legal needs around the world.

With more than 60 lawyers, including 14 partners, and a staff of over 140, DLA Piper Hungary is one of the largest international law firms operating in Hungary. What makes us stand out is that we offer not only legal services but also tax and business advisory support in a fully integrated manner. We maximize synergies between legal, tax, and business advisory services to offer a unique service for our clients, particularly in regulated industries such as energy, infrastructure, life sciences, banking, and telecommunications.

We are a true full-service firm, providing our private and public sector clients with advice on all aspects of their business. This includes transaction-related advice, people and employment, commercial dealings, litigation, information technology, media and communications, intellectual property, insurance, tax, real estate, and restructuring plans.

DLA Piper Hungary has received numerous professional awards and is consistently ranked among the top law firms in Hungary by international rankings. We are ranked #1 by Mergermarket among the law firms active in Hungary based on the volume of M&A deals handled between 2005 and 2024.

Firm's website.

Our Latest Issue