Brexit transition period: Difference between revisions
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On 24 December 2020 the UK and European Commission agreed the terms of a post-Brexit free trade agreement agreement that | On 24 December 2020 the UK and European Commission agreed the terms of a post-Brexit free trade agreement agreement that applied from 1 January 2021. | ||
The EU-UK Trade and Cooperation Agreement entered into force on 1 May 2021. | The EU-UK Trade and Cooperation Agreement entered into force on 1 May 2021. | ||
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* [[Cliff edge]] | * [[Cliff edge]] | ||
* [[Customs union]] | * [[Customs union]] | ||
* [[Department for Business and Trade]] (DBT) | |||
* [[Department for Exiting the European Union]] | * [[Department for Exiting the European Union]] | ||
* [[Equivalence]] | * [[Equivalence]] | ||
* [[EU-UK Trade and Cooperation Agreement]] | |||
* [[European Commission]] | * [[European Commission]] | ||
* [[European Economic Area]] | * [[European Economic Area]] | ||
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* [[United Kingdom]] | * [[United Kingdom]] | ||
* [[Withdrawal Agreement]] | * [[Withdrawal Agreement]] | ||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:The_business_context]] | [[Category:The_business_context]] | ||
Latest revision as of 19:37, 26 February 2023
The Brexit transition was a period under the UK-EU withdrawal agreement in which the UK was no longer a member of the EU, but continued to be subject to EU rules and remain a member of the single market and customs union.
It ran from 1 February 2020 to 31 December 2020.
The transition period was designed to allow the UK to continue its previous relationship with the EU while future security cooperation and trading relationships were negotiated.
The UK government did not use the term transition: instead it refered to this period as an “implementation period”.
On 24 December 2020 the UK and European Commission agreed the terms of a post-Brexit free trade agreement agreement that applied from 1 January 2021.
The EU-UK Trade and Cooperation Agreement entered into force on 1 May 2021.
See also
- Article 50
- Brexit
- Brexit Britain
- Brexit Day
- Brexodus
- Cliff edge
- Customs union
- Department for Business and Trade (DBT)
- Department for Exiting the European Union
- Equivalence
- EU-UK Trade and Cooperation Agreement
- European Commission
- European Economic Area
- European Free Trade Association
- European Union
- European Union (Withdrawal Agreement) Act 2020
- Free trade agreement
- Frexit
- Grexit
- Hard Brexit
- Make UK
- No Brexit
- No Deal
- Parliamentary supremacy
- Passporting
- Ratification
- Schengen Area
- Single Market
- Sovereignty
- United Kingdom
- Withdrawal Agreement
