BREXIT: NOTHING WILL CHANGE ON FEBRUARY 1st ,2020

Jan. 31, 2020 |  Customs & Tax - Blog - 



The French customs have confirmed that nothing will change in the relationships between the UK and the EU until, at least, December 31st, 2020.

The EU and the UK have agreed on October 17th, 2019 on a withdrawal agreement.

This agreement has been signed on January 24th, 2020 by the European Council and by the UK government. At last, the European Parliament has approved the agreement on January 29th ,2020.

The withdrawal agreement will, therefore, enter into force on January 31st ,2020 at midnight.

The UK will, consequently, leave the EU, but the EU regulations will only cease to apply to the UK at the end of the transition period laid down in the agreement; that is December 31st ,2020. Moreover, that date could be extended further.

For the yachting industry, a UK registered vessel will still be considered EU until the end of the transition period.

In addition, as the UK will still be considered part of the EU customs and VAT territory, a UK resident owner will not be allowed to benefit from the temporary admission relief until, at least, January 1st, 2021


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