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Brexit - Leaving the European Union

on Friday, 24 June 2016.

Now that the British electorate has voted to leave the European Union, the potential opportunities and threats of Brexit for our clients will start to take shape.

Next Steps for UK Government

It is not yet clear what will happen and when, but a likely next step in the process will be for the UK government at some point to give formal notice of withdrawal from the European Union to the Council of Ministers under Article 50 of the Treaty on European Union. That notice may come soon or there may be an alternative negotiation strategy.

When an Article 50 notice is given, this will trigger a period of negotiation between the UK and the EU on an exit package - and unless an agreement is concluded in the timescale, or an extension granted by unanimous agreement of the Council of Ministers, our membership of the EU ends automatically two years from the date of notice. It is worth noting that Article 50 only deals with the terms of exit, and not our future relationship with the EU, which will need to be the subject of a separate negotiation.

Potential Implications for Business and Personal Interests

VWV will closely monitor these negotiations and any related national legislative programme (a comprehensive review of the English legal system is likely to be necessary) to identify issues and potential changes relevant to our clients. We will follow their progress so that we can give clients as much advanced warning as possible of likely changes, and the potential impact on their business or personal interests. We will be reporting to clients throughout a process that is designed to take a maximum of two years, but might last considerably longer - particularly in terms of our future trading relationships with the EU and the rest of the world.

Legal Implications 

Those areas where EU law has had the most profound impact on our national law - for instance immigration, employment, discrimination, agriculture, public procurement, competition and regulatory law - will be closely watched on your behalf, but other issues are likely to emerge, and we will work with you to help understand and manage the legal impact.

Concerned about Britain's Decision to withdraw from the European Union?

If you would like to discuss any concerns you may have about Britain's decision to withdraw from the European Union, please contact any of our Brexit Planning team: