The Brexit Support Fund is a new UK Government scheme for SMEs which provides grant funding of up to £2,000 to help them adapt to the new customs and tax rules which now apply when trading with the EU. To be eligible, UK businesses must import or export goods between GB and the EU or move goods between GB and Northern Ireland.

The £20 million SME Brexit Support 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.

The scheme will close on 30 June 2021 however HMRC is encouraging business to complete their application before then.