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Brexit
2019
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Author Notes
Nicholas Wallwork is a leading international rear estate market commentator, entrepreneur, business leader, investor, developer, and author. In addition to heading several real estate and investment companies, he wrote Investing in International Real Estate For Dummies and has produced and presented real estate TV shows on the UK's Sky TV. www.nicholaswallwork.com
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Summary
<p> Your practical and fearless guide to surviving the world's biggest break-up </p> <p>Whether you're a staunch Remainer, a buccaneering Brexiteer, or are wavering between the two camps, you'll want to be fully au fait with all the issues surrounding Britain's exit from the EU--wherever in the world you and your business are based. This book, by leading businessman and entrepreneur Nicholas Wallwork, will arm you with everything you need to negotiate the post-Brexit landscape and end up just where you need to be. </p> <p>Kicking off with the history behind the tightly fought June 23 referendum, Brexit for Dummies covers the origins of British Euroscepticism right up to the most recent legal and policy changes in place following the vote. As well as looking at the influence Brexit has already had--both domestically and internationally--the book takes a glimpse at what lies ahead, giving you vital insights into how to protect your business right now and to capitalize on new opportunities in the future.</p> Changing customs: how to negotiate the new import-export rules Think global: how is Brexit influencing the international economy? Get moving: what do immigration policy changes mean for my business? Buy or sell?: make the smartest foreign investment decisions both inside and outside Britain <p>Love it or loathe it, Brexit has profound implications for your business, and this guide will help you stop worrying and prove that au revoir doesn't mean goodbye for good.</p>
Table of Contents
Introductionp. 1
About This Bookp. 1
Foolish Assumptionsp. 3
Icons Used in This Bookp. 3
Beyond This Bookp. 4
Where to Go from Herep. 4
Part 1Getting Familiar with Brexitp. 5
Chapter 1What is Brexit and What Does It Mean for You?p. 7
The Votes Are In, But How Did We Get Here?p. 8
Looking at the 2016 results in more detailp. 8
Understanding the UK's complex relationship with Europep. 9
Breaking Down the Brexit Timelinep. 11
Looking at the Key Elements of the Brexit Negotiationsp. 13
Deal or No Deal? Brexit Goes Down to the Wirep. 15
How Businesses Reacted to the Brexit Decisionp. 17
Assessing the Potential Impact of Brexit on Your Businessp. 19
Trading across bordersp. 19
Dealing with logistics challengesp. 20
Managing the impact on employees and access to laborp. 20
Looking at other considerationsp. 21
Planning for the impact on your businessp. 22
Looking to life after Brexitp. 22
Chapter 2The Road to Brexit: The UK's Rocky Relationship with the EUp. 23
From Empire to the Aftermath of World War IIp. 24
The end of an empirep. 25
Keeping Europe at arm's lengthp. 25
Flares and Friends: The UK and Europe Cozy Up in the 1970sp. 27
Officially joining the clubp. 27
Looking for greater influence in Europep. 28
Things (Start To) Fall Apart: The UK and Europe in the 1980s and Early 1990sp. 30
Alarm bells start ringing in the 1980sp. 30
Black Wednesdayp. 30
The Maastricht Treatyp. 31
The increasing transfer of powerp. 32
Rising Euroscepticism from the 1990s Onwardp. 32
Right, Lads, Let's Have a Votep. 33
Drawing the Battle Lines: Looking at the Key Issues in the Brexit Referendump. 34
Britain's financial contributions to the EUp. 34
Immigration and free movement of peoplep. 36
The tricky issue of tradep. 37
UK sovereigntyp. 38
Divided kingdom? How the referendum results played out across the UKp. 38
Meanwhile, what did the EU make of all this?p. 39
Part 2Breaking Up is Hard to Dop. 41
Chapter 3Negotiating the UK's Exit from the EUp. 43
Understanding the Scope of the Withdrawal Agreementp. 44
The A-Team? Introducing Each Side's Negotiating Teamp. 45
On the UK teamp. 45
On the EU teamp. 46
Exploring the Draft Withdrawal Agreementp. 47
It's going to cost how much?p. 47
Transitioning smoothly with the "transition period"p. 48
Abiding by EU lawsp. 49
Formalizing citizens' rightsp. 50
Why hasn't anything been agreed on trade yet?p. 52
Northern Ireland and the tricky issue of the "backstop"p. 53
Getting Parliamentary Agreement on the, er, Agreementp. 56
Voting on the withdrawal deal: Round 1p. 56
Voting on the withdrawal deal: Round 2p. 57
More votes, and Brexit is delayed (for the first time)p. 58
Voting on the withdrawal deal: Round 3p. 59
Brexit is delayed ... againp. 60
So, what happens next?p. 60
Chapter 4Everybody Needs Good Neighbors: Looking at Long-Term UK-EU Relationsp. 63
Understanding the Declaration on Future Relations and How It Differs from the Withdrawal Agreementp. 64
Trading in Goods and Services in the Futurep. 65
Looking at the UK's potential trading relationship with the EUp. 66
Considering whether the UK can just trade with the EU under World Trade Organization rulesp. 67
Seeing what will happen with trading in financial servicesp. 67
Looking at UK trade with the rest of the worldp. 68
Building Regulatory Cooperation between the UK and the EUp. 69
Solving the Thorny Issue of Customs Arrangementsp. 70
Aiming for tariff-free trade with Europep. 70
Knowing what will happen to VAT on goods from the EUp. 71
Considering What "No More Free Movement" Will Mean in Practicep. 71
Forming the Basis for Formal Post-Brexit Negotiationsp. 72
Preparing for a potentially bumpy road aheadp. 73
Looking at some of the factors that may impact negotiations and future relationsp. 73
Part 3Getting Down to Business: The Impact of Brexit on UK Companiesp. 75
Chapter 5Importing and Exporting Goods and Services between the UK and the EUp. 77
Looking at UK Trade around the Worldp. 78
Understanding Big-Picture Importing and Exporting Issuesp. 80
Negotiating future trading relationshipsp. 81
The impact of deal or no dealp. 81
Stripping back the hype on tariffsp. 82
Will UK Businesses Lose Access to the Single Market?p. 83
Whatever happens, trade will continuep. 83
The importance of EU markets to UK businessesp. 84
The importance of the UK market to EU businessesp. 84
Planning for Changes in UK-EU Imports and Exportsp. 85
Factoring in potential new tariffsp. 85
Coping with more paperwork and higher costsp. 86
Understanding the impact on import VAT and customs dutiesp. 88
And What About Services?p. 89
Going Further Afield: Trading With Customers outside of the EUp. 90
Chapter 6Tackling Transport and Logistics Challengesp. 93
Looking at Big-Picture Logistics Issuesp. 95
Coping with a massive shortage of driversp. 95
Maintaining access to workers in the logistics sectorp. 96
Rising demand for warehousingp. 97
Spotting the opportunities for the UK logistics sectorp. 98
Preparing for More Stringent Border Controlsp. 98
Assessing the timeline for changep. 98
Being ready for increased border checksp. 99
Factoring in potential delays at the border and en routep. 99
What about goods crossing the land border between Northern Ireland and the Republic of Ireland?p. 101
What Happens When Your Delivery Vehicles Travel in Europe?p. 102
Planning for Potential Supply Chain Disruptionp. 104
Coping with higher transport and storage costsp. 104
Being ready for potential delaysp. 105
Communicating with your logistics suppliersp. 105
Transporting Goods to and from Non-EU Countriesp. 106
Chapter 7Employing EU Citizens in the UK (And Vice Versa)p. 107
Looking at the Big Picture: How Will Brexit Affect Employment Law?p. 108
Sticking with the EU on most areasp. 108
Where might the UK disagree with EU law?p. 109
So British workers might end up with fewer protections?p. 109
Managing the Impact on Your Existing European Employeesp. 110
Recognizing the contribution of EU citizens to the UK economyp. 110
Making sure employees secure "settled status" in the UKp. 111
Supporting All Your Employees through Uncertain Timesp. 112
Considering the effect of disruption on the workforcep. 112
Taking practical steps to engage and retain your employeesp. 114
Making Sure You Have Ongoing Access to the Labor You Needp. 116
Understanding immigration changes after Brexitp. 116
Looking at wider trends in access to laborp. 117
Employing UK Citizens in Europep. 118
What happens to Brits already living and working abroad?p. 118
What happens to Brits who want to move to Europe in the future?p. 119
Understanding the broader disadvantage for British workersp. 119
What if Your (UK Citizen) Employees Need to Visit Europe on a Business Trip?p. 120
Chapter 8Eyeing Other Key Business Considerationsp. 121
Preparing for Changes for European Branches and Subsidiariesp. 122
Looking at big-picture risk factors for companies with overseas branches and subsidiariesp. 123
Assessing the impact on EU businesses owned by UK companies/citizens (and vice versa)p. 123
Deciding whether to set up an EU subsidiaryp. 125
Safeguarding Your Intellectual Property: Copyright, Trademarks, Designs, and Patentsp. 125
Looking at the bigger-picture intellectual property issuesp. 126
Taking action to protect your intellectual propertyp. 127
Continuing to Comply with Environmental Standardsp. 127
Maintaining Product Safety Standardsp. 129
Looking at the big picture for safety standardsp. 129
Considering the CE safety stamp on productsp. 129
Keeping Up with Other Legal and Regulatory Changesp. 131
What to Do If You Have a .eu Domain Name for Your Company Websitep. 132
GDPR and Managing the Personal Data of EU Citizensp. 133
Recognizing that GDPR is enshrined in UK lawp. 133
Transferring data between the UK and the EUp. 134
Reviewing Your Business Contractsp. 135
Chapter 9Carrying Out a Brexit Impact Assessment for Your Businessp. 137
Assessing the Impact on Your Workforcep. 138
Employing EU nationals in the UKp. 138
Maintaining access to laborp. 139
Sending UK citizen employees to the EUp. 140
Other employment-related issuesp. 140
Considering the Impact on Trade and Logisticsp. 141
General trade barriers and opportunitiesp. 141
Importing and exporting goodsp. 142
Potential supply chain disruptionp. 143
Looking at the Money Side of Thingsp. 144
VAT, accounting, costs, and cash flowp. 145
Grants and fundingp. 146
Currency issuesp. 146
Bringing Standards, Licensing, and Qualifications Up to Datep. 146
Professional qualifications and licensingp. 147
Operating and product standardsp. 147
Environmental standardsp. 147
Assessing IT and Data implicationsp. 148
Covering Miscellaneous Considerationsp. 148
Making Sure You Have a Contingency Planp. 149
Part 4The Part of Tensp. 151
Chapter 10Ten (Or So) Ways to Protect Your Business against Brexit Uncertaintyp. 153
Doing a Brexit Impact Assessmentp. 154
Working with a "Dream Team" of Expertsp. 154
Staying in the Loop on Brexit Developmentsp. 155
Engaging with Government Support and Business Resourcesp. 156
Keeping Your Foot On the Gasp. 156
Diversifying and Creating Multiple Streams of Incomep. 157
Keeping Staff Engaged and Motivatedp. 158
Communicating with Your Customersp. 159
Communicating with Your Suppliersp. 159
Chapter 11Ten (Or So) Business Opportunities for a Post-Brexit Worldp. 161
Exploring New Markets Beyond the EUp. 162
Growing Domestic Demand for Products and Servicesp. 162
Capitalizing on Reduced Regulationp. 163
Solving Your Customers' Brexit-Related Problemsp. 163
Building Your Personal Reputation as a Leader in Your Industryp. 164
Automating Business Processesp. 165
Seeking Investment from Overseas Investorsp. 166
Picking Up Business from Companies That Have Left the UKp. 167
Capitalizing on Homegrown Support for British Businessesp. 167
Chapter 12Ten Brexit Developments to Keep an Eye Onp. 169
The Transition Periodp. 170
Trade Negotiations with the EU and Beyondp. 170
The Irish Borderp. 172
Scottish Independencep. 172
Repatriation of UK/EU Laws to Westminster and Devolved Parliamentsp. 173
Will Companies Pull Out of the UK?p. 173
The Changing Political Landscape in Britainp. 174
Workforce Pressures Affecting the Public and Private Sectorsp. 175
The Impact on Currency and Financial Marketsp. 175
Accessing Helpful Resources to Help You Stay Up to Datep. 176
Indexp. 177
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