The Business Secretary has written to the professional and business services sector warning them about the actions they need to take to prepare for the end of the Brexit transition period.

With just a month to go, the letter, titled Are You Ready For New Rules For Business With The EU, sets out the key steps businesses in industries such as financial services and legal need to take ahead of the transition deadline.

According to the Business Secretary Alok Sharma, businesses can avoid interruption when the transition period ends on 1 January 2021 by taking the following actions:
Writing to businesses, Mr Sharma said: “There is just over a month to go until the end of the transition period and there will be new rules to follow from 01 January 2021 onwards. As Business Secretary, I urge you to act now to avoid your business operations being interrupted when the transition period ends.

• Get your professional qualifications recognised by EU regulators to be able to practice or service clients in the EU. Professionals should start this process early to avoid disruption.
• Check if a visa or work permit is required to travel to the EU for work purposes and apply if necessary. You may face delays or refusal at the border should you travel without the correct documentation.
• Be prepared on data protection and data transfers. Should the UK fail the EU data adequacy test, UK businesses will need to invest in additional data safeguards to process data from the EU.
• If you are planning to recruit from overseas from 01 January 2021, you will need to register as a licensed visa sponsor. UK businesses cannot legally hire people from outside the UK without one.

“These are challenging times, but the transition period is ending on 31 December 2020 and there will be no extension. Unless you take action, there is a risk your business operations will be interrupted. The Government will be there to help you to take advantage of the many new opportunities that being an independent trading nation will bring.”

For help and advice on related matters, please get in touch with our expert Brexit advisory team today.