Brexit (archived)

Brexit (archived)

This archived document provides an overview of the UK’s withdrawal from the EU and the impact on the Private Client practice area.

The EU referendum

On 23 June 2016, the UK held a referendum on its membership of the EU, with a majority voting in favour of the UK leaving the EU (Brexit).

On 29 March 2017, the UK Prime Minister gave formal notification to the President of the European Council triggering Article 50 of the Treaty on the European Union (TEU), commencing the process of the UK's withdrawal from the EU.

Article 50 TEU sets out the key provisions concerning the withdrawal of an EU Member State. It specifies a two-year withdrawal period, commencing upon notification. At the end of this period, the EU Treaties cease to apply to the withdrawing Member State, either from the date of entry into force of a ratified withdrawal agreement, or automatically two years after notification if no agreement is reached (or no extension is agreed).

In the case of the UK’s withdrawal, the withdrawal period was first extended in March 2019, until 12 April 2019. It was then extended

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