Barclays bank have announced plans for a major lending fund worth £14 billion pounds, which will help small and medium enterprises (SMEs) to flourish once the UK has left the European Union (EU). Continue reading
The Bank of England’s (BoE) Monetary Policy Committee (MPC) has unanimously voted to maintain the UK interest rate at 0.75 per cent amid uncertainty about the potential nature and timing of the UK’s withdrawal from the European Union. Continue reading
The number of VAT-registered businesses exporting goods across the UK has increased to 110,800, new figures have revealed. Continue reading
UK Finance announced a national campaign encouraging small and medium-sized enterprises (SMEs) to prepare for the potential changes and opportunities brought about by the UK’s departure from the EU. Continue reading
HM Revenue & Customs (HMRC) has announced plans to phase in Entry Summary Declarations should the UK leave the EU without a deal this March. Continue reading
UK businesses who share data with organisations in the European Economic Area (EEA) will need to take steps to ensure they continue to comply with data protection laws should the UK leave the EU without a deal.
The warning comes as the Prime Minister fails to get Parliament to agree to her Brexit withdrawal bill, increasing the prospect of a no-deal outcome.
In light of this, the Government has begun to publish an abundance of guidance for businesses, detailing what to do and how to prepare for changes, should we leave with no deal in place.
As part of this guidance, the Information Commissioner’s Office (ICO) has produced a six-step checklist to help businesses to continue sharing data legally after 31 March 2019.
The regulator said the UK does not intend to impose additional requirements on transfers of personal data from the UK to the EEA, therefore organisations will be able to send personal data to organisations in the EEA as they do currently.
However, without a legal agreement in place, transfers of personal data from the EEA to the UK will become restricted once the UK has left the EU.
Because of this, the Government advises that organisations who receive personal data from organisations in the EU should consider what changes they may need to make to continue complying with the general data protection regulation (GDPR) and other legal obligations.
The six-step checklist, found here, may help you navigate this process.
The following guides may also help:
For more help and advice, please get in touch with our expert Brexit advisory team.
UK growth is stagnating as a result of heightened Brexit uncertainty and other economic pressures, the British Chambers of Commerce (BCC) has warned. Continue reading
Ahead of Britain’s upcoming departure from the European Union (EU), HM Revenue & Customs (HMRC) is warning businesses about the necessary steps they need to take to prepare for the unlikely event of a no-deal Brexit. Continue reading