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On 17 December 2020, the UK Internal Market Bill obtained Royal Assent, meaning that it has officially become UK law. More information on the Parliamentary debates can be found here. A press release was also issued by the UK Government.
The UK Internal Market Bill will enter into force on 1 January 2021 and will protect UK internal trade ensuring there are no new barriers to trade between all parts of the UK. Further to negotiation talks between the UK and the EU, it was agreed for the UK will withdraw clauses 44, 45 and 47 of the UK Internal Market Bill (breaking international law), and not introduce any similar provisions in the Taxation Bill. For more information on the principles of this law, please view this news item.
