Do you need support dealing with the impact of Brexit?
There is still time to apply for a government grant of up to £2,000 for professional advice and support.
Applications will close on 30 June 2021 or earlier if all funding is allocated before this date.
SME Brexit support fund
This is for grants for businesses new to importing and exporting to receive professional support, advice and training.
The UK leaving the EU has meant a huge number of British businesses are now having to account for customs duties and import VAT for the first time and navigate new administrative requirements due to the new trading relationship with the EU.
Trading with the EU and trading between Great Britain and Northern Ireland post-Brexit is complex and if mistakes are made these can be costly.
The SME Brexit support fund is a £20 million fund designed to help small and medium sized businesses adapt to the changes to trading with the EU from 1 January 2021.
Each SME business can apply for a grant of up to £2,000 to fund professional advice and support.
Who can apply?
To benefit from the scheme a business must:
- Have 500 employees or fewer
- Have no more than £100 million annual turnover
- Be established in the UK
- Not have previously failed to meet its tax or customs obligations
- Import or export goods between GB and the EU or move goods between GB and NI
The business must also either:
- Complete (or intend to complete) import or export declarations internally for its own goods; or
- 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)
What can the grants be used for?
Grants can be used to help you get professional advice so your business can meet its customs, excise, import VAT or safety and security declaration requirements
The grant can also be used for training and support on:
- How to complete customs declarations;
- How to manage customs processes and use customs software and systems; or
- Specific imports and export related aspects including VAT, excise and rules of origin.
How can we help?
Our VAT team is on hand to assist with any queries you may have arising from Brexit.
We can provide tailored Brexit advice based on the Brexit impact on your business and the areas where you need support, along with supporting you with the grant application.
We can provide advice on a specific problem area or undertake a more holistic review.
We have developed a Post-Brexit VAT review to support businesses trading with the EU including:
- Buying from the EU
- Selling to the EU
- Trading with Northern Ireland
- VAT return completion
- Postponed Import VAT accounting
This is ideal for businesses struggling with trading post-Brexit or simply wanting assurance that they are getting things right!
In addition, our MHA network member firm MHA MacIntyre Hudson have developed an in-depth, practical training course designed for businesses impacted by the customs changes resulting from Brexit. The training course is currently delivered via video conferencing.
The training covers all the aspects of customs that your business will need to learn such as:
- How Brexit will impact on your business – what are the legal requirements and easements provided by the UK
- How to classify your goods
- How to value your imports for customs purposes
- Customs Duties – What are they and how are they calculated
- Rules of Origin. What are they and how are they used
- Import declaration process and how to minimise errors.
- Roles and responsibilities of the importer, exporter and freight forwarder
- Customs Procedures such as Customs Warehousing, Inward Processing and Temporary Admission
- HMRC Customs Audits
For further information and support on the SME Brexit support fund and Brexit, please contact: