Brexit centre

The decision of the UK people to leave the European Union is one of the most significant events to occur in the history of the EU. Because of our geographic, social and economic ties with the UK, Ireland will experience the greatest impact of this decision among EU countries. The land border makes the situation particularly onerous. Ireland currently operates a trade surplus with the UK and customs checks and controls are increasingly likely.

Chartered Accountants Ireland

Latest Brexit news

Brexit

After a few weeks of relative quiet on the Brexit front, we are back this week with our Brexit Bulletin with the news that UK Prime Minister Theresa May will resign as leader of the Conservative Party on 7 June.  Earlier this week, she had made a plea to MPs to save her Brexit deal saying she has “tried everything” to get an agreement through and it was with "deep regret" that she could not find consensus in the Parliament.    During her embattled speech earlier this week, Theresa May made a last-minute appeal to MPs to agree to her Brexit plan, promising that she will give them a vote on whether to call another referendum to ratify the UK’s departure from the EU.  However her plea has fallen on deaf ears and that plan has now been abandoned with the announcement of her resignation this morning.  The process to find a new leader (who will automatically become Prime Minister) will begin on 10 June and Mrs May will remain as Prime Minister until a new leader is found.  The new leader will then have to seek consensus from MPs to move Brexit forward.   No –deal planning You can read how to prepare for a no-deal Brexit on our Brexit webcentre.

May 23, 2019
Brexit

The UK Prime Minister had hoped to get a three month extension and the result is shorter than the 12 months preferred by some EU leaders.  Reports emerging from the summit suggest that the French President Emmanuel Macron was in favour of the Halloween extension. However, the deadline can still be shortened if the UK Parliament passes a Brexit deal.   Talks between the Conservative and Labour party continue.  But it does mean that the UK may very well have to contest next month’s European Parliament elections. Emerging at 2:30am following extensive talks, European Council President Donald Tusk had a clear “message to our British friends…. This extension is as flexible as I expected, and a little bit shorter than I expected, but it’s still enough to find the best possible solution. Please do not waste this time.” Theresa May said she was hopeful of getting a Brexit deal before May 22 – meaning the UK wouldn’t have to partake in the upcoming European elections.   “I continue to believe we need to leave the EU, with a deal, as soon as possible….And vitally, the EU have agreed the extension can be terminated when the withdrawal agreement has been ratified … The choices we now face are stark, and the timetable is clear. We must now press on at pace with our efforts to reach a consensus,” she said. The EU had a clear message emerging from the summit - the withdrawal agreement is not up for renegotiation.  There are reports that the UK are considering staying in a customs union with the EU, something Minister for Finance Paschal Donohoe said would be “enormously positive” for Ireland. The UK Parliament must agree on a way forward in the negotiations but the option to revoke Article 50 and effectively reverse Brexit remains on the table.  

Apr 15, 2019
Brexit

Following a nine-hour summit of the heads of state of the EU in Brussels on Wednesday, Brexit has been delayed until 31 October – 7 months later than the original departure date of 29 March 2019.  The UK Prime Minister had hoped to get a three month extension and the result is shorter than the 12 months preferred by some EU leaders.  Reports emerging from the summit suggest that the French President Emmanuel Macron was in favour of the Halloween extension. However, the deadline can still be shortened if the UK Parliament passes a Brexit deal.   Talks between the Conservative and Labour party will continue this week.  But it does mean that the UK may very well have to contest next month’s European Parliament elections. Emerging at 2:30am following extensive talks, European Council President Donald Tusk had a clear “message to our British friends…. This extension is as flexible as I expected, and a little bit shorter than I expected, but it’s still enough to find the best possible solution. Please do not waste this time.” Theresa May said she was hopeful of getting a Brexit deal before May 22 – meaning the UK wouldn’t have to partake in the upcoming European elections.   “I continue to believe we need to leave the EU, with a deal, as soon as possible….And vitally, the EU have agreed the extension can be terminated when the withdrawal agreement has been ratified … The choices we now face are stark, and the timetable is clear. We must now press on at pace with our efforts to reach a consensus,” she said. The EU had a clear message emerging from the summit - the withdrawal agreement is not up for renegotiation.  The UK Parliament must agree on a way forward in the negotiations but the option to revoke Article 50 and effectively reverse Brexit remains on the table. Follow all the Brexit updates on our website.

Apr 11, 2019