Government announces NEW £20 million SME Brexit Support Fund
February 15, 2021
Grants to help small and medium-sized businesses new to importing or exporting
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.
SMEs who trade only with the EU and are therefore new to importing and exporting processes will be encouraged to apply for grants of up to £2,000, for each trader to pay for practical support including training and professional advice to ensure they can continue trading effectively with the EU.
What can you use the grant for?
You can use the grant for training on:
• 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 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:
• 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
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)
Applications are NOT YET open. You will be able to apply online here when they do.