The key aspects of the Draft Withdrawal Agreement announced in Brussels on 19th March are:

  • The Transition Period will last from Brexit Day on 29th March 2019 until 31st December 2020
  • UK citizens arriving in the EU, and EU citizens arriving in the UK during the Transition Period will enjoy the same rights and guarantees as those who arrive before Brexit Day.
  • The UK will remain party to existing EU trade deals with third countries, but will simultaneously be able to negotiate, sign and ratify its own trade deals during the Transition Period
  • The UK will remain part of the Common Fisheries Policy during the Transition Period, yet without a direct say in its rules. The UK’s share of fishing catch will be guaranteed until the end of 2020. Through 2020, the UK will be negotiating fishing opportunities as an independent coastal state.
  • The issue of Northern Ireland remains a key point of negotiations. In all likelihood, NI will effectively stay in parts of the single market and the customs union in order to avoid a ‘hard border’ with the Republic of Ireland.

This update is for general guidance only. Specific legal advice should be obtained in all cases. This material is the copyright of Goodwille Limited (unless otherwise stipulated) and is not to be reproduced in whole or in part without prior written consent.