The UK is due to leave the EU in just 28 days' time, with or without a Brexit deal.
It is possible that the UK and EU27 governments will agree an extension to the deadline, but this is not certain. If it does happen, it might come as late as the last week of March.
Our experience is that some businesses have prepared as thoroughly as they can for the possibility of a No Deal Brexit, but it is certainly the case that many others have not.
Our new No Deal Checklist – which expands and updates material from a previous CMS report, Ready for Brexit? – covers basic business issues. Additional material relevant to specific sectors is available on our Brexit website, or from your usual CMS contact.
Having a strategy that reflects your particular situation is key. The single most important step for your business is auditing exposure to the risk of a No Deal Brexit, if that has not yet been done. After that, it is possible to prioritise the handling of individual risks.
CMS can help you audit and prioritise your legal risks, as well as advising on solutions and on other aspects of Brexit, including its longer term implications.
