Brexit what next?

The UK Government and EU have agreed to an extension to the Article 50 period until 12 April, with a further extension until 22 May if the Withdrawal Agreement is approved by the UK Parliament next week.

Charles Brasted, partner at Hogan Lovells, says: "This short delay to avoid an 'accidental' no-deal Brexit on 29 March is no great surprise, but it does not mean that a no-deal Brexit is off the table. Uncertainty reigns in the UK at the moment, with the next possible Brexit date for everyone's diaries being 12 April 2019. At that point, the UK will leave without a deal unless the UK Parliament has approved the Withdrawal Agreement, or the UK has persuaded the EU to agree a much longer extension. The price of persuasion will be – at least – a credible 'way forward' and a commitment to hold EU Parliamentary elections in May.

The risk of a no-deal Brexit remains critical. Businesses must now adjust their preparations to fit the new timetable, while continuing to press for a positive resolution."

Please have a look at the Hogan Lovells Brexit flowchart for more details on the possible path ahead.

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