Brexit Impact Assessment Checklist

As an organisation based in the UK, you will already have questions around what Brexit means for you. You may think that because you don’t trade in the EU that there isn't any impact, but take the time to look at our impact assessment list below. You will be surprised at what might impact your organisation. Some of what you need may be a conversation, some may be a full blown audit and by no means is this an exhaustive list, but hopefully it will give you a starting point to manage the transition period ahead of us. 

1. Your people

• Do you employ people from the EU? Will there be a skills deficit impact on your organisation?
• Think about how your people may be affected both in the role they do and their employment status – check rights to work and VISA status.
• Review your contracts of employment
• Is travel a big part of their remit? Consider similar VISA requirements, additional administrative burden on the organisation and whether you need extra people to support this
• Do you have people with certain qualifications that may no longer be recognised?

2. Your service and your suppliers

• Does your business trade in the EU? 
• Do you rely on suppliers or specialist services based in the EU?
• Do you have any EU trade union obligations?
• Review your terms of business 
• Is your business governed by European EN standards?
• Are you importing or exporting from the EU, or do any of your worldwide clients supply goods in EU based warehouses?
• Does your company manufacture products that must certify to EU safety, security or ecological standards?
• Do you dispatch goods or documentation to the EU via postal or courier services?

3. Finance and Tax

• Does your business hold money in financial institutions?
• Does your business rely on funding or grants that come from the EU?
• Are you VAT registered or do you operate under the MOSS agreement?
• Are there new finance regulations to be considered for your reporting requirements

4. Data and IT

• Is any of your data hosted in an EU country? This also includes any cloud storage you may have
• Do you hold personal data about people in the EU on UK servers?
• Do your mobile phone contracts cover data and calls for employees travelling within the EU?

5. Intellectual Property

• Does your business own any patents, trademarks or any registered copyrights? 

This list is the headline assessments we feel that our business community should consider at a minimum. If you would like further advice or guidance in any of these areas please contact our CEO, Meeta Sahni here. We have been supporting and advising our clients on the impact on their organisation and providing the relevant skills needed to provide them with the required outcomes.