Statement from the CEO: Brexit Readiness
As you are aware the UK is currently voting on a withdrawal agreement from the European Union single market which, if not accepted, may involve leaving the single market and customs union on 29thMarch 2019, with or without a transitional period. At this point in time, the Brexit discussions between the UK and the EU have caused conflict and there is a likelihood that the UK may leave the EU single market with what has been termed a “No Deal” situation, but in essence means that we would leave immediately on 29thMarch 2019 with no confirmed agreements in place with the EU about what our relationship would be like in the future.
A “No Deal” outcome will lead to a significant event in terms of customs, taxes, finance, operations, employees, products, legal obligations, regulations applying to the UK, along with supply chain management and process.
In preparation for the upcoming withdrawal from the EU, Embridge Consulting has completed a Brexit Readiness Review and Checklist. This review included a scenario assessment which looked at any possible effect or impact if there was a “No Deal” scenario. This review has shown that if the outcome results in a “No Deal” situation, there would be an immaterial impact on our business.
The Brexit Readiness Review and Checklist continues to be a ‘live’ assessment and as more information is released to the British public and/or any decisions made in relation to the withdrawal from the EU, we will revisit the assessment, update any relevant information and re-establish possible effects / impacts likely to occur. If there are any material impacts which may affect our business and supply of services, we will of course inform you as soon as reasonably practicable.
Embridge Consulting (UK) Ltd