At the end of March 2018, both the EU and the UK presented a joint text of the Withdrawal Agreement which was perceived as a ‘decisive step’ in the negotiations. However, the text published illustrates that there remains a lot of work to be done and some significant issues are still to be resolved. One key aspect is the inclusion of a transition agreement to the end of 31 December 2020, which should allow both parties more time to negotiate the entire agreement. Furthermore, the text covering citizens’ rights and the financial settlement appeared to be agreed. It is confirmed that citizens arriving in the EU or the UK during the transition period will have the same rights as those arriving before. It should be noted however, that even in respect of areas that are agreed, legal certainty on an agreement will only come with legal ratification, which is scheduled for the end of 2018. Also, the UK Parliament has to approve the Withdrawal Bill once it is final.
What if the UK’s departure from the EU would cause too many adverse (tax) implications?
