SME Brexit Support Fund goes live

The Government has now launched its £20 million SME Brexit Support Fund – apply today!

The SME Brexit Support Fund has been designed to help SMEs with the new rules that apply to trading with the EU following the end of the Brexit transition period.

The fund offers grants worth up to £2,000 to enable businesses who trade only with the EU to access training and professional advice to ensure they can continue trading with minimal disruption.

This includes training on:

  • How to complete customs declarations
  • How to manage customs processes and use customs software and systems
  • Specific import and export related issues, including VAT, excise and rules of origin.

Additionally, the grant can be put towards professional advice relating to meeting customs, excise, import VAT and safety and security declaration requirements.

Businesses are eligible for the fund if they:

  • Have been established in the UK for at least 12 months before submitting an application or currently hold Authorised Economic Operator status;
  • Have not failed to meet tax or customs obligations in the past;
  • Have no more than 500 employees;
  • Have turnover of no more than £100 million; and
  • Import or export goods between Great Britain and the EU or between Great Britain and Northern Ireland.

They must also meet one of the following conditions:

  • Complete (or intend to complete) import or export declarations for their own goods; or
  • Use someone else to complete import or export declarations but need additional capability to effectively import or export.

To apply for this funding, businesses must complete their submission by 30 June 2021 at the latest, although the Government has confirmed that this scheme may close early if the allocated funding is fully utilised sooner.

Click here to apply for the SME Brexit Support Fund

Businesses have been given longer to prepare for changes to customs after the Government set 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 instead of 1 July 2021 – six months later than originally planned.

We highly recommend that you use this fund to prepare your businesses for the changes ahead, including making use of our Brexit services so that you can continue to trade unhindered.

To find out more about our dedicated post-Brexit advice and support, please contact us

Posted in Brexit.