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SME Brexit Support Fund

Thursday 1 April 2021

Written by Mehul Thaker

SME Brexit Support Fund

SME Brexit Support Fund

From 15th March 2021, small businesses can now apply for grants up to £2,000 that will help them adapt to the new customs and tax rules as a result of Brexit. 

The government has ringfenced £20 million to small businesses for this and providing the business meets certain criteria, the funding can be used towards the costs of training and/or professional advice. 

The two grants available are as follows:

  1. Grant for Training - The grants can be used to provide training on the following:
  • 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 
  1. Grant for Professional Advice - The grant can be used to get professional advice, so your business can meet its customs, excise, import VAT or safety and security declaration requirements.

The conditions for the small business to be eligible for the grant are: 

  • to 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

The 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)

Some useful links:  

https://www.customsintermediarygrant.co.uk/sme-brexit-support-fund

https://www.gov.uk/guidance/grants-to-help-small-and-medium-sized-businesses-new-to-importing-or-exporting

https://www.gov.uk/government/news/20-million-sme-brexit-support-fund-opens-for-applications

If you have any questions, please do not hesitate to get in touch or email me directly at mehul.thaker@raffingers.co.uk 

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