Be prepared for Brexit no deal

Be prepared for Brexit no deal, it is no long to go now. The Brexit date and time is 31 October 2019 at 2300, UK will be officially not part of the EU. This would not change no matter what, according to Prime Minister Boris Johnson. So the only outcome we are waiting for is, whether there is deal or no deal.

While we wait for the Brexit outcome, UK government has created an online checker tool to help UK businesses to get ready for Brexit on 31 October 2019. The checker tool is very easy to use. You just need to answer the questions and the checker tool will retrieve the relevant information and also recommendations on what to do.

Work permit or Visa for your staff

For example, if you have staff from EU countries working in your UK business, you may need to check if your staff need a work permit or visa to continue to work in your UK business after Brexit. Generally, EU nationals want to continue living in the UK after Brexit, they must either apply for a settled status under the EU settlement scheme or apply to become a British Citizen. The EU settlement application is free. There is an one time application fee for British citizenship application.

Business travel to Europe after Brexit

Besides, if you frequently travel to EU for business purposes, you must follow the travel to Europe after Brexit rules. For example, make sure your passport has at least six months before expiry.

Another thing, if you travel to Europe by car. You must put a GB sticker on the back of your car, even if your number plate already shows GB with a Euro symbol. You could get a fine if you do not have a GB sticker when you need one. Read more about driving in the EU after Brexit and GB sticker here.

The checker tool make your life very easy to know what you need to do to be prepared for Brexit no deal. Use it, it is a free tool.

Brexit UK leaves EU 31 October 2019

Brexit UK leaves EU on 31 October 2019, the radio made the announcement repeatedly yesterday. I lost count the number of times during the 3 hours car journey.

At night, while waiting at the Accident and Emergency at the hospital to treat possible fractured finger, I saw the news on the TV broadcasting Brexit news. The news said if UK leaves EU with no deal, UK may face shortage of food.

Possible shortage of food

There is always a solution to a problem. UK have lots of land. People can opt to eat locally produced fresh vegetables and fruits. This may open the opportunity to encourage local farmers to grow more to cater for the demand of local fresh fruits and vegetables.

In the olden days, when international trade not yet to become popular, no import and export exist yet, what do people eat? People eat food produced locally. They taste nice and delicious. We can do the same here.

It may be inconvenient not to be able to continue to buy imported fruits and vegetables from the EU. However, we have the option to import fresh fruits and vegetables from the rest of the world if we wish.

May be you would like to grow your own vegetables at home. In your back garden if you have a bit of land. You can get vegetables seeds easily from supermarket and garden centre nowaday.

Seek, you shall find it.

If You think Brexit UK leaves EU on 31 October 2019 caused lots of troubles. If you think the change as a result of Brexit is trouble is coming, then all you will see and find is just trouble after trouble. With resentment, you would tend to get frustrated quickly.

Change your perspective, view Brexit is an opportunity to restructure your company, reorganize your business, to streamline your business operations. If you seek opportunity, you will find it. When you have a positive mindset, you tend to get things done more quickly and efficiently. Most importantly, you feel peace.

UK government has put in place many guidances to help people to adapt the Brexit. For example, Companies House has issued guidance to help people to manage the administration of UK companies that operate in the EU, EU companies that operate in the UK. All is well and good luck.

UK Auditors if Brexit no deal

UK Auditors only perform audit on UK companies will not be affected if Brexit no deal. However, Brexit no deal will affect UK Auditors that perform audit to UK companies operating in the European Economic Area (EEA) countries.

UK Audit qualification in EEA countries

First of all, your UK audit qualifications in the EEA country may not be valid if Brexit no deal. Currently, If you are able to sign audit reports with your UK audit qualification in an EEA country, you must contact the home country professional auditing authority.

Double check your eligibility as UK Auditor with UK audit qualification is still valid if Brexit no deal. Most likely, you would require to complete a new aptitude test or adaptation period. Alternatively, you may re-qualify by obtaining the relevant qualification.

UK Auditors audit EEA companies

Most importantly, if you expect to sign an audit report for an EEA company after Brexit no deal, check with the EEA home country auditing authority if you are still eligible to sign. If not, what steps you need to take for your audit opinion to be valid. The last resort is that you may require to resign as auditor if unable to obtain approval to act as an Auditor in the EEA country.

EEA Auditors in UK if Brexit no deal

EEA Auditors registered with UK professional accountancy bodies as statutory auditor do not need to take any action. Yahoo.

However, for new EEA qualified auditor working in the UK will have until 31 December 2020 to register as a statutory auditor. For this purpose, you must contact one of UK professional accountancy bodies. You would have to pass an aptitude test.

Auditors from Republic of Ireland generally not affected. With exception, auditors of CPA Ireland will need to take an aptitude test.