The UK officially left the EU on Friday 31 January 2020 and has now entered into an 11 month transitional period, during which the UK will continue to follow EU rules and regulations, and negotiations will continue to establish the UK and EU’s future relationship. The transitional period is due to last until 31 December 2020.
In this time, the Government hopes to negotiate a comprehensive trade deal with the EU and the outcome of those talks is likely to have a major impact on what Brexit means for you in 2021. Some key areas of your finances that could be affected by Brexit, include investments, pensions, savings and mortgages.
During this period of negotiation on the UK’s future relationship with the EU, we will continue to monitor the situation and update policyholders as and when required. In the meantime, if you have any questions on how Brexit may affect you please contact your Financial Adviser.