Brexit transition period: Difference between revisions

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(Update on EU-UK trade agreement.)
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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 came into provisional application - subject to ratification by the EU - from 1 January 2021.
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]]
* [[Department for International Trade]]
* [[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]]
=== Other links ===
[https://www.treasurers.org/hub/technical/brexit Brexit - ACT Resources]


[[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