SME Brexit Support Fund
You can now apply for the SME Brexit Support Fund. This means smaller businesses can get up to £2,000 to pay for practical transition support, including training or professional advice to adjust to new customs, rules of origin and VAT rules when trading with the EU.
Applications will close on 30 June 2021 or earlier if all funding is allocated before this date. Apply online through PwC.
What you’ll be able to 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
- only import or export goods between Great Britain and the EU, or move goods between Great Britain and Northern Ireland, if you already import or export goods from or to a non-EU country you are not eligible for his grant
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)
As you are aware, if you move goods between the UK and countries in the EU, you need to follow new customs and tax rules. Your business will be affected by the new rules if you:
- buy goods from an EU seller and bring them into the UK
- send goods you’ve sold to a buyer in an EU country
- haven’t exchanged money but need to move equipment that you use for your business, between the UK and the EU
To help you with the changes, HMRC has a load of great resources to support you:
- Check out HMRC's YouTube channel to familiarise yourself with the new customs processes and what you need to do before you trade goods with the EU
- Use the trader checklist to make sure you’re familiar with the new rules that affect you
- Use HMRC's updated guides to understand the new customs and VAT requirements when moving goods between the UK and EU countries
- Ask and get answers to specific questions about HMRC processes for importing or exporting, by visiting their customer forums
- Watch webinars and videos from other government departments to support you
If you have any questions, please do not hesitate to get in touch or email me directly at mehul.thaker@raffingers.co.uk