£2000 Brexit Support Fund Grants to help small businesses trading with the EU
3rd March 2021 News CHW Accounting
The government has launched an SME Brexit Support Fund which will give grants of up to £2,000 to help small businesses cope with the additional burden of post Brexit paperwork and costs when trading with the EU.
Small businesses are facing complex new customs processes, VAT requirements and rules of origin and the grants are to enable these businesses to buy-in expertise, training, and practical support.
Which businesses are eligible?
To qualify for the grant the business must:
- be established in the UK
- have been established in the UK for at least 12 months before submitting the application, or currently hold Authorised Economic Operator status
- 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 move goods between Great Britain and Northern Ireland.
The business must also either:
- complete (or intend to complete) import or export declarations internally for its own goods; or
- 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 can businesses apply?
Businesses will apply online and it is anticipated that applications will be open this month.
The government will update this page when applications can be submitted https://www.gov.uk/guidance/grants-to-help-small-and-medium-sized-businesses-new-to-importing-or-exporting
This article is for general guidance only. It provides an outline, and may not include points which are important to your situation. You should not depend on this blog without taking advice based on the full facts of your case. The information given was correct at the time of publication.