Brexit - some business complications

Image 5

The business press has been awash with 'post-Brexit' predictions of various sorts, but some of the implications requiring the most forward planning have attracted relatively little comment.

After the UK Government formally begins the withdrawal process from the EU, there will be lengthy exit negotiations and no changes in the law are anticipated for at least two years. However, businesses will need to plan ahead for the eventuality.

In the event that a free trade agreement is negotiated between the UK and the EU, the UK will need to continue to comply with many aspects of EU law. For example, much of UK employment and environmental law stems from the EU and, in some instances, goes beyond EU law in terms of protection of workers' rights and the environment. In practice, little change is to be expected.

- The European Company (also known by its Latin name Societas Europaea or SE). UK businesses using the European Company will wish to consider the suitability of continuing to do so in changed circumstances.

- Intellectual Property. At the moment, trade marks can be obtained through the use of the 'Registered Community Design' and 'European Union Trade Mark', which have EU-wide effect. How this will work in practice for UK-based businesses after Brexit is uncertain, although it will clearly be in both sides' interests to preserve a very similar system, which is the outcome of many years' negotiation.

- Debt Collection. At present, there is a simplified procedure for the enforcement of debts across the EU. It remains to be seen if this will be preserved. If not, this may be a reason to set up a trading
location within the EU to manage sales to EU businesses.

At this stage, it is important to remember that nothing substantial is expected to happen for at least two years. However, Brexit may have implications for future plans and business structures, and it will be important to consider your options – especially if you have substantial business relations with entities in other EU countries – and be prepared for the likely eventualities.

However, there are specific issues that UK businesses should be thinking about, which include:

- VAT Compliance. The present system of VAT recovery and compliance is likely to change, as VAT will be recovered for EU acquisitions under Article 13 of the relevant Directive, rather than Article 8. In practice, this means that recovering VAT incurred in EU countries may well take considerably longer after Brexit. It is also possible that multiple VAT registrations will be required in different EU countries. This may pose a substantial additional compliance cost. 

Your details

Please note we are unable to offer legal aid

Message

Fields marked with a * must be completed.

  • We engaged Rose and Rose to recover a bad debt. Their service was excellent and we recovered the full amount plus costs with minimal effort. I have no hesitation in recommending their services and we will certainly use them in the future.
  • Trustworthy and efficient service from this team of friendly and professional solicitors. I would recommend Rose and Rose.
  • Rose and Rose Kingston provided extensive support to me whilst selling my property. We had a number of challenges to overcome but at no point did I feel I did not know what was happening in the process. They are extremely helpful, supportive and explained everything to me in simple terms. In future I will only recommend and use Rose and Rose.
  • We have recommended the services of Rose and Rose many times to either our clients selling properties or their buyers. Every time we have a transaction where they are involved it gives us great reassurance that the deal will be done efficiently, that updates are always available and that the parties involved have a clear understanding of the transaction. Those that we have referred to Rose and Rose have always been extremely happy with the service and have achieved the right end result.
  • Rose and Rose are now officially my favourite and most helpful solicitor.
  • Rose and Rose were exceptional to deal with. Instructed by a buyer of ours they were nothing but helpful and pleasant throughout the transaction, always at the end of the telephone if needed, and as a result of their obvious expertise the sale went through effortlessly. I can highly recommend them.
  • Both my sister and I used Rose and Rose for our conveyancing. We were extremely happy with the service provided, it was professional, friendly and expedient. I would definitely use Rose and Rose in the future.
  • Rose and Rose provided an excellent service when it came to selling our property and buying another. We were able to contact them when needed and we found them approachable and efficient. We would have no hesitation in recommending this solicitor.
  • I have no hesitation in recommending Rose and Rose who acted for me in the sale and purchase of my home.
  • Rose and Rose are the best solicitors that I have dealt with, and the only one I will be dealing with from now on. The professional approach and service they offer is second to none. Their ability to always keep you informed with what is going on has been extremely helpful and given me peace of mind.
  • Rose and Rose recently handled the conveyancing for the sale of our property and we were extremely impressed with the level of service we received. The overall process was quick and efficient. Although these matters can be extremely stressful the staff involved were friendly, thoughtful and approachable yet totally professional throughout. This in effect enabled the sale to proceed relatively smoothly. I would therefore not hesitate to employ the services of Rose and Rose in the future. Robert P
  • Rose and Rose have helped me with conveyancing but also with my divorce and not only have they done a good job, they have ensured my costs have been contained as much as possible. They offer an exceptionally good service and explain the law in plain English, they are very friendly and easy to deal with.
  • Great, helpful advice and support from people who understand what you want and deliver in a straightforward manner in plain English. I highly recommend Rose and Rose Solicitors in Kingston.
  • I have used Rose and Rose Solicitors on a number of occasions and have always found them to be extremely friendly and helpful. They always provide excellent advice and do so in a cost effective manner whilst maintaining an extremely personal service and they really seem to care about you. I would have no problem in recommending their services to any of my friends, family and clients.
  • Rose & Rose Solicitors have a surprisingly refreshing approach to the Law. Whilst obviously highly committed and professional they are relaxed, friendly and approachable making all your dealings with them, in often very difficult circumstances, as stress free as possible. Highly recommend. Rose & Rose is a well rounded solicitors' firm, they have managed to help us through our business legal requirements with their fast, reliable and cost effective service. They have met our demand and need every time. Rose & Rose in Kingston successfully assisted my girlfriend's business in clawing back a large chunk of bad debt that a company were refusing to pay. I was so impressed with the simplicity and ease in which they dealt with the situation that I will use Rose & Rose Solicitors to represent all my own company's legal requirements including employment contracts, conveyancing, dispute resolution, etc. Rose and Rose provide their considerable expertise in a relaxed, friendly and unstuffy way. They have assisted my company and my clients and I would not hesitate to recommend them.
  • We have been involved in a number of sales where Rose and Rose have represented either the buyer or seller and on every occasion they have been a pleasure to deal with. The team make themselves very available and always respond to messages and emails quickly and always seem to be in command of a situation. This is so important to us as we need to keep our customers up to speed at all times. We aspire to delivering excellent service to our customers and they certainly help a great deal in this respect. Our customers who have used Rose and Rose have all been complimentary about the service they have received and how easy everyone there is to deal with.