UK urges businesses to prepare for end of Brexit transition

LONDON, 10 Oct (Reuters) – On Sunday the British Government advised firms to brace towards the conclusion of the Brexit adjustment phase to determine whether or not a trading pact with the European Union is concluded.

Boris Johnson stated that the implementation period that expires on December 31 will not be prolonged in the UK and progress is expected to resolve substantial disagreements between the two sides in the coming days to reach an agreement.

The Ministry of Business claims that several companies do the same irrespective of the results of the talks, and scheduled a series of sectoral webinars in October.

'According to company minister Alok Sharma, company is now just 81 days away before the end of the transition phase so that they are happy for the new UK launch coming January,' he added.

"The adjustment cycle will not be prolonged, so there will not be time to spare."

The government said that companies needed to do things such as ensure the residency register and prepare the customs procedures for the EU.

On 31 January, but more than four years after voting 52%-48% in Brexit in the 2016 referendum, the United Kingdom left the EU officially, and the two parties are discussing a commercial agreement to take place until informal membership expires on 31 December.

The two chief negotiators, Michel Barnier from the EU and David Frost from Britain, claim they inch through an understanding ahead of Oct. 15, but major differences exist with respect to fisheries, freedom of play and administration.

A no-deal scenario was planned for both sides.

(Alistair Smout report; Christina Fincher editing)