The ongoing Brexit negotiations between the UK and the EU reached a critical juncture at the March EU Council meeting at which political agreement was reached on what was called a Transition Deal.
The terms of the Transition Deal are encapsulated in what is referred to as the Withdrawal Agreement. With the important qualification that “nothing, including the Transition Deal, is agreed until everything is agreed”, our document summarises the key components of the draft Withdrawal Agreement that are likely to be of interest to businesses in both the Republic of Ireland and Northern Ireland.
Whilst agreement has been reached on a substantial range of issues in the Withdrawal Agreement, one of the key areas yet to be agreed is the arrangements in relation to the border between the Republic of Ireland and Northern Ireland.
Whilst it is tempting to adopt a “wait and see” attitude given all the possible permutations in terms of a final outcome on Brexit, we strongly advise against such an approach as scenario planning and a thorough understanding of the risks (and in some cases possible opportunities) makes good business sense.
To understand the issues and implications raised by the draft Withdrawal Agreement download our report below.
If you have any questions about Brexit and related matters please do get in touch with your usual KPMG contact or our subject matter experts team.