The UK left the EU on 31 January 2020 and is now in an 11-month transition period. The deadline for both sides to agree an extension to the transition period has now passed.

Major changes will take effect on 1 January 2021, therefore the clock is ticking to agree on complex arrangements which would govern the EU-UK relations in less than six months' time.

Our Brexit Team is monitoring developments closely as we continuously provide practical advice and insight to our clients and the market.