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Brexit provides plenty of compliance opportunities

Neil Hodge | July 11, 2017

It has been a year since the United Kingdom held its referendum that signified the end of its membership of the European Union. But 12 months later, no one still knows—except for the U.K. government (apparently)—how Brexit will pan out, though the date it will happen is set: Friday, 29 March 2019.

Prior to the June election, Prime Minister Theresa May’s road to Brexit seemed clear—a “hard” Brexit with no deal on the Single Market or Customs Union, allowing the United Kingdom (in theory) to try to renegotiate new trading terms with the European Union based on mutual advantage once it leaves the 28-country bloc in less than two years’ time.

But since the election, which saw the Conservative Government lose its majority and agree to a coalition with Northern Ireland’s pro-remain Democratic Unionist Party, the future looks less certain. A “softer” Brexit—whereby the United Kingdom retains some degree of non-tariff trade with the European Union, with more flexibility about... To get the full story, subscribe now.