Government announces NEW £20 million SME Brexit Support Fund
The £20 million SME Brexit Support Fund, offers support to help small businesses adjust to new customs procedures, rules of origin, and VAT rules when trading with the EU. Only SMEs who export solely to the EU (including Southern Ireland) and are therefore relatively new to importing and exporting processes are eligible to apply.
What’s on offer:
up to £2,000 to pay for practical support including training and professional advice to ensure you can continue trading effectively with the EU.
You’ll be able to use the grant for training:
how to complete customs declarations
how to manage customs processes and use customs software and systems
specific import and export related aspects including VAT, excise and rules of origin
it can also be used to help you get professional advice so your business can meet its customs, excise, import VAT or safety and security declaration requirements.
Who will be able to apply? Your business must:
export solely to the EU (including Southern Ireland) and are therefore relatively new to importing and exporting processes are eligible to apply
be established in the UK for at least 12 months before submitting the application
not have previously failed to meet its tax or customs obligations
have no more than 500 employees
have no more than £100 million turnover
import or export goods between Great Britain and the EU, or moves goods between Great Britain and Northern Ireland
Your business must also either:
complete (or intend to complete) import or export declarations internally for its own goods
use someone else to complete import or export declarations but requires additional capability internally to effectively import or export (such as advice on rules of origin or advice on dealing with a supply chain)
How you’ll apply
You will apply online but the applications are not open yet (as of 12-February)
PricewaterhouseCoopers (PwC) will be administering the grants for HMRC.
For more information on the SME Brexit Support Fund, click here.
Full guidance on how you can use the grant, who can apply and how to apply, click here.
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