Preparing for Brexit: essentials for accountants

Carmine Papa, managing partner at PKF Littlejohn, outlines the steps that businesses need to start taking now in order to prepare for a post-Brexit world, including risk analysis and response planning

At long last, we’re starting to get a glimpse of what our post-Brexit future might look like. While there is still considerable uncertainty about the exact terms of the UK’s departure from the EU, anyone who has been paying careful attention to the prime minister’s comments on Brexit (as well as the recent White Paper) now has some useful clues as to the direction in which the country is likely to head. 

Whatever the outcome of the UK’s discussions with the EU, it’s quite clear that any agreement will have a profound effect on the way the UK does business. There will undoubtedly be winners and losers over the next few years as a result of the changes that Brexit will bring.

The challenge to the business community is to make sure their organisations come out as winners, or at the very least, are not the losers from this process. One way to increase the chance of success is to plan for the future now.

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