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Brexit

Information on taxes, customs and financial services

 

On 29 March 2017, the United Kingdom notified its intention to leave the EU. In order to be prepared for the exit from the EU and to make it as smooth as possible, the EU and the UK have negotiated a “Withdrawal Agreement” and a political declaration on the future relationship. The United Kingdom should have left the EU by the end of March 2019. The UK Parliament’s disapprobation of the withdrawal agreement led to several postponements of the withdrawal, after which negotiations between the EU and the UK were resumed, resulting in an adjustment of the Withdrawal Agreement and political declaration on the future relationship. The EU quickly accepted this negotiation result and on 22 January 2020, the British Parliament adopted the Ratification Act for the Brexit Agreement.

On the basis of this agreement, the United Kingdom left the EU on 1st February. During the “transition period” until the end of 2020, which has now begun, the United Kingdom will continue to be treated as an EU Member State. This means that for the time being, there will be no changes for citizens and companies within the sphere of action of the Federal Ministry of Finance.

Negotiations on the future relationship between the EU and the United Kingdom will start as soon as possible with the aim of concluding them by the end of 2020 (an extension of the transition phase beyond 2020 is possible in principle).

Further information

 The Council of the EU has made all the negotiation steps and relevant documents available  on a website. In addition, the European Commission has launched a website with relevant Brexit information, as well as a web-page with extensive questions and answers about the Brexit.
 

The Federal Ministry of Finance has compiled information on the subject for the following areas: