At 11pm on 31 December 2020, the Brexit transition period ended and the U.K. ceased to be a member of the single market and customs union. Too many focussed on the fishing industry (contribution to UK economy in 2019: £446m), when profound changes came to the U.K.’s legal services industry (contribution to the UK economy in 2019: £60bn).
Save for limited transitional provisions, the Judgments Regulation 1215/2012 (applicable within the EU) has been revoked and any rights and powers deriving from the Lugano Convention 2007 (applicable to Iceland, Norway and Switzerland) cease to be recognised and available. The U.K. is no longer part of a common European-wide regime for determining jurisdiction and the recognition and enforcement of judgments in civil and commercial cases. The U.K. has applied to join the Lugano Convention in its own right, but that has not yet been agreed to by the EU and Denmark.
