On Christmas Eve, the UK and the EU concluded a Trade and Cooperation Agreement in principle. The key take away from a data protection perspective is that transfers of personal data from the EEA to the UK can continue without safeguards for a period of up to six months from the end of the transition period. This means that there is no need (yet) to put SCCs in place to facilitate these transfers. The Agreement will take effect provisionally in EU law on 1 January 2021, pending ratification by the EU Parliament in early 2021. The UK Parliament will be invited to ratify the Agreement tomorrow.
We've got a summary of the DP implications of the deal on our Connect on Tech blog.