Brexit has, with effect from 1 January 2021, moved into full blown reality. Whilst the Deal agreed on the terms of future trade and cooperation was very welcome, there are a number of further developments and key dates that businesses should keep in mind as they adjust. Brian Daly, Head of Brexit at KPMG in Ireland, sets out these milestones below.

Key dates to be aware of

1 January 2021

TCA provisionally took effect on 31 December 2020 at 11pm 

End of March 2021 

3 month grace period from requirement to provide export health certificates (EHCs) on food supplies from GB to NI ends.  

End of March 2021 

A framework for regulatory cooperation in financial services between the EU and the UK is to be agreed by March 2021

End of April 2021 

Temporary Data Adequacy ends, unless extended until the end of June 2021. 

End of June 2021

End of phased introduction of  border controls on imports of goods into NI from GB 

Temporary equivalence for settlement of EU securities trades by UK CSDs ends

Regulatory requirements under EU law applicable to the import of certain meat products cease to apply in respect of exports of meat products from GB to NI 

31 December 2021 

Relaxed rules regarding the documentary evidence required for exporters preparing statements of origin for exports to the UK cease to apply

1 August 2023 

Either the EU or the UK may notify the other if either considers goods to be “at risk” of moving into the EU from NI under the UK Trader Scheme 

1 August 2024 

Either the EU or the UK may decide to apply an emergency break to the UK Trader Scheme if it is being abused 

End 2024 

First consent vote on whether to continue Northern Ireland Protocol by NI Assembly

End 2025 

First general review of Trade and Cooperation Agreement, with subsequent reviews every 5 years thereafter

Mid 2026 

End of fisheries adjustment period, by which time the value of the catch the UK can take in its own Economic Exclusion Zone will increase to an average of 25% 

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If you have any queries on how Brexit will affect your business, please get in touch with our dedicated Brexit Response Team.

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