17 Mar SME Brexit Support Fund Now Open
Everyone has been worrying about the impact of the Coronavirus Pandemic on businesses but what about Brexit? With so much going on this year, many small businesses are facing their toughest year to date. Now in the 2021 Budget, we heard all about various support schemes to aid businesses struggling in the coronavirus pandemic, but now the SME Brexit Support Fund is open and available to claim.
HMRC has released details of the SME Brexit Support Fund, a scheme designed to help smaller businesses adapt to the changes to the trade with EU rules.
Small businesses can apply for grants up to £2,000 to help them adapt to the new customs and tax rules that have come into play when trading in the EU. The grant is designed to be used to help traders access practical support such as training for new customs, rules and VAT processes.
Small and Medium-sized businesses that trade solely with the EU are being encouraged to apply for the grants as they are new to the importing and exporting process.
The grant, announced in February, opened for applications on 15th March 2021. To be eligible, businesses must import goods between Great Britan and the EU or Great Britan and Northern Ireland. It follows the plan to introduce import border controls. The full import border control processes will be introduced on 1st January 2022 six months later than originally planned.
As well as the grant, the government is offering:
- Meetings with businesses from certain sectors across the UK through the Brexit Business Taskforce.
- Offering support for businesses moving goods between Great Britan and Northern Ireland through the Trader Support Service.
- Various helplines and online webchats.
- Webinars and a Brexit Checker Tool to give businesses a personalised list of things they need to do.
- And more.
Applications for the grant will close on 30th June 2021 or earlier if all the funding has been allocated before this date.
Click here to find out more on GOV.UK
And, as always, if you have any questions don’t hesitate to get in touch with us!