£20 million SME Brexit Support Fund Opens for Applications

20/03/2021 - 5 minutes read

What is the SME Brexit Support Fund?

Smaller businesses can apply for grants of up to £2,000 to help them adapt to new customs and tax rules when trading with the EU with training costs covered.

£20 million SME Brexit Support Fund Opens for Applications

£20 million SME Brexit Support Fund Opens for Applications

£20 million SME Brexit Support Fund Opens for Applications

The £20m SME Brexit Support Fund enables traders to access practical support, including training for new customs, rules of origin and VAT processes.

To be eligible, businesses must import or export goods between Great Britain and the EU, or move goods between Great Britain and Northern Ireland.

The SME Brexit Support Fund provides up to £2,000 to help with training or professional advice for businesses with up to 500 employees and no more than £100m annual turnover.

Applications will close on 30 June 2021 or earlier if all funding is allocated before this date.

Small and medium-sized businesses that trade solely with the EU – and are therefore new to importing and exporting processes – are encouraged to apply for the grants.

The fund, announced in February by the Chancellor of the Duchy of Lancaster, Michael Gove, is the latest round of government support for UK trade.

The grant can be used for training on how to complete customs declarations, how to manage customs processes and use customs software and systems, and specific import and export related aspects including VAT, excise and rules of origin.

This follows the government setting out a new timetable for introducing import border control processes to enable UK businesses to focus on their recovery.

Full import border control processes will now be introduced on 1 January 2022, six months later than originally planned.

What You’ll Be Able to Use the SME Brexit Support Fund 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.

How Can SME Brexit Support Fund help me

How Can SME Brexit Support Fund Help Me?

Who Will Be Able to Apply for SME Brexit Support Fund

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)

How to Apply for SME Brexit Support Fund

PricewaterhouseCoopers (PwC) is administering the grants for HMRC.

Applications will close on 30 June 2021 or earlier if all funding is allocated before this date.

Apply online through PwC.

The above link should take you through the customs intermediary grant website and you can click the “REGISTER NOW” button to provide further details about your business which includes your companies house registration number and Unique taxpayer reference number (UTR) along with how long your business has been established in the UK.

How Can MCL Accountants Help?

Contact MCL Accountants on 01702 593 029 to optimise your tax position or if you need any assistance with the preparation of your company accounts that you may need to provide to PWC as part of this application.

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