Is your business prepared for 2021? | October 2020

The UK left the EU on 31st January 2020, and entered into a transition period when, although no longer an EU Member State, it remained part of the EU’s customs union and single market, and EU law continued to apply. That transition period ends on 31st December, when EU law will cease to apply to the UK, and the UK will leave the EU customs union and single market.

Date: Thursday 15 October 2020

This will bring about significant changes for business of every size in the UK, and will impact many, if not all, businesses in the Isle of Man.

Most of these changes will occur whether there is an agreement reached on a future trading relationship, or not, and so action needs to be taken irrespective of the outcome of the negotiations.

The Department for Enterprise’s Business Checklist has been prepared to help local businesses consider what preparations they need to make ahead of the end of the year, in order to be ready to do business in 2021: https://www.iomdfenterprise.im/assets/PDFs/ca9f935f68/Brexit-Business-Checklist-Revised-Sept-2020.pdf

If you would like more support on how to prepare your business for 2021, please get in touch with the Department for Enterprise and we will be happy to assist. Dfemarketing@gov.im