The Government have funnelled a further £20million into grant schemes for SME’s, available through the current SME Brexit Support Fund. The grants are intended to help eligible businesses with EU trading, and helping them better navigate the post-Brexit landscape by supporting with the costs of training and/or professional advice.
Businesses can apply for grants up the value of £2000 which can then be used to access Professional Customs Training and/or Professional Advice in order to adapt to new customs and tax rules when trading with the EU.
Using the grants to help with EU trading
The grants can be used to cover the cost of training and/or professional advice sought in relation to trading with the EU, and the changes brought about by Brexit. Training or advice can be obtained by any suitably qualified provider.
GRANT FOR TRAINING
For example:
- How to complete customs declarations
- Managing customs processes
- Using customs software and systems
- Specific import and export issues such as VAT and rules of origin
GRANT FOR PROFESSIONAL ADVICE
For example:
- Seeking professional advice to ensure your business meets all of its requirements, such as customs, safety and security, import VAT etc
Eligibility criteria
To be eligible for this funding, businesses 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
- Generate 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
Helping SME’s thrive
SME’s are an integral part of the UK economy, and play a crucial role in its growth and prosperity. But the changes imposed as a result of Brexit have been challenging for many businesses in the SME space, and some businesses are still finding themselves navigating unfamiliar paperwork and costs when buying or selling to Europe.
The Governments targeted funding will help eligible businesses access the support and advice they need in order to prosper and uncover new opportunities in the post-Brexit world.
We encourage all SME’s who trade with the EU to apply for the grants.
To help companies navigate the post-Brexit trading requirements, experts from Smith Cooper’s specialist VAT division can help. Our team of experts deliver bespoke training workshops to UK importers and exporters, which are run in conjunction with experienced Customs Duty experts. If you would like to know more about how we can support you and your business, please do not hesitate to get in touch.
