UK firms ‘praying’ for more time to plan for Brexit

Planning for a no-deal Brexit among larger businesses is “highly variable,” but prudent firms will keep preparing so long as such an outcome “remains an option,” said James Stewart, head of Brexit at KPMG UK.

“Many of the businesses we’re speaking to are praying for an extension to article 50,” Stewart said in a January 28 statement. “At this stage even our most informed clients feel as if anything could happen. They’re thinking about getting products from A to B, market access, and staffing up situation rooms for April,” he said, adding that there are “no safe bets.” My news story for Tax Notes (paywall), published January 29:

U.K. Firms ‘Praying’ for More Time to Plan for Brexit