If you are tempted to do nothing about GDPR please first read the ICOs recently published FAQs and take the Self Assessment Tool as soon as possible. This will clearly indicate if GDPR applies to you and your next steps.
The General Data Protection Regulation (GDPR) is a new, Europe-wide law that replaces the Data Protection Act 1998 in the UK. It is part of the wider package of reform to the data protection landscape that includes the Data Protection Bill. The GDPR sets out requirements for how organisations will need to handle personal data from 25 May 2018.
For more information view the ico website here.