Chartered Accountants Ireland reaction to EU-UK Joint Committee agreement

Dec 09, 2020
Crona Clohisey

Commenting on the EU-UK Joint Committee agreement on 8th December Cróna Clohisey, Public Policy Lead, Chartered Accountants Ireland said:
“While it is positive to see the EU-UK Joint Committee reach an agreement in principle, the promise of the adoption and implementation of this agreement before the end of the Brexit transition period could be a “red herring” for businesses. The absence of an implementation mechanism does not give businesses adequate time to understand and prepare for the changes before they come into effect on 1 January 2021. 
“This will make matters more complicated for traders and businesses, particularly those depending on the finer technical details of the agreement, and their practical application. 
“These technical details need to be made available as soon as possible. We are still facing the prospect of a no deal Brexit, but technical detail on today’s agreement would go a long way to providing some reassurance to businesses.”