Brexit Update - Withdrawal Agreement Act 2020 now law

The Withdrawal Agreement Act 2020 is now law and has been ratified by the European Parliament, ensuring that the UK will leave the EU on 31 January 2020. 
 
There will be a transition period to 31 December 2020 to provide assurance, continuity and certainty for businesses and individuals. Existing laws and regulations will generally continue to apply for businesses through this period. During the transition period UK businesses will be able to continue to access EU markets and markets in other countries which have trade agreements with the EU. The same applies for EU businesses accessing the UK market.
 
The Government is now preparing for Future Relationship negotiations. The priority is to negotiate a comprehensive and ambitious Free Trade Agreement that takes into account the best interests of UK businesses. The Government has been clear that it will not extend the Implementation Period beyond December 2020.
 
Please see a HMRC letter on steps businesses should take after 31 January 2020 here https://www.gov.uk/government/publications/letters-to-businesses-about-trade-arrangements-after-the-uk-has-left-the-eu 
 
Please visit  https://www.gov.uk/transition to identify actions you can take now to prepare for 2021.
 
Office for Life Sciences recognise the importance of consulting with the life sciences sector, and will continue to do so throughout the negotiation process.