The prime minister of the UK needs to trigger the UK’s exit from the EU by the end of March. Even though this deadline is closing fast, there is still a lot of uncertainty with regards to the effects of this so-called Brexit.
As an EU member, the UK and UK-based companies can sell their products and services to other EU countries without paying any additional tax. However, due to recent statements from UK’s prime minister it is likely the UK will also exit the customs union which leads to even more uncertainty. UK’s options with regards to easy access to the EU market appear to be time consuming and limited.
For more on the possible options of the UK and the consequences, follow this link to an elaborate background story.