The Brexit Support Fund closes for applications at the end of this month - HMRC is encouraging eligible businesses to complete their application before then. This £20 million SME fund is designed to enable traders to access practical support, including training for new customs, rules of origin and VAT processes.
Anyone booking onto the Institute’s certificate in customs and trade course may be able to avail of the grant, subject to the relevant conditions being met for the scheme if the business is established in the UK.
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. In a recent meeting with HMRC, the Institute was advised that applications have been low to date however thousands of businesses have started applications but not completed them. The scheme administrators will be in contact with any business which has completed a registration but has not yet submitted their application.
The definition of SME under the scheme is very generous. Broadly, a qualifying business is one established in the UK with up to 500 employees and turnover of up to £100 million.
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