The Government has announced a new £20 million SME Brexit Support Fund to help small businesses adjust to new customs procedures, rules of origin, and VAT rules when trading with the EU. This fund offers up to £2,000 for business with up to 500 employees, and no more than £100 million annual turnover who trade with the EU.
The eligibility criteria are that the business must:
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- 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 moves goods between Great Britain and Northern Ireland
Businesses can use the grant for training on:
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- 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
- professional advice so the business can meet its customs, excise, import VAT or safety and security declaration requirements.
Applications for the fund are not yet open but when they are they will be on this link: https://www.gov.uk/guidance/grants-to-help-small-and-medium-sized-businesses-new-to-importing-or-exporting