We have now had a few months of ‘taking back control’ and, as a number of commentators have pointed out, the impact of Brexit would very likely have been top of the news each night if we hadn’t been in the midst of a pandemic. Whilst the EU vaccine debacle has demonstrated the benefits of going it alone, many UK businesses have reported additional hurdles – only some of which were anticipated. Different industries face different challenges which range from additional border checks, extra paperwork to prove source of components and VAT implications of providing goods and services to the EU. The finance industry has been particularly heavily impacted with the refusal of the EU to provide equivalence decisions to allow continued access to EU markets in a bid, many suspect, to force banks and similar businesses to migrate from London to financial centres in Europe.
It should come as no surprise that the EU is playing hardball – after all, we jilted them – but it’s not all doom and gloom. Some of the UK’s emerging growth areas remain largely unaffected by the change in regulation including fintech and sustainable investment such as green finance. Others are agile and innovative enough to spot the opportunities that always come with seismic change.
Russell-Cooke is here to guide you through the detail to allow you to face the challenges and grab hold of the opportunities. Visit our Brexit hub to find out more.