If you move goods between the UK and countries in the EU, you now need to follow new customs and tax rules but how prepared do you feel about them?
Your business will be affected by the new rules if you:
- Buy goods from an EU seller and bring them into the UK
- Send goods you’ve sold to a buyer in an EU country
- Haven’t exchanged money but need to move equipment that you use for your business, between the UK and the EU
In order to support you getting to grips with the changes, you can now apply for the SME Brexit Support Fund. The government has made £20 million available and provided you meet certain eligibility criteria, smaller businesses can get up to £2,000 to pay for practical support, including training or professional advice to adjust to new customs, rules of origin and VAT rules when trading with the EU.
What you’ll be able to use the grant for
There are two types of grants that Traders can apply for.
You can use the grant for training on:
- 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
You can also apply for a grant for professional advice so your business can meet its customs, excise, import VAT or safety and security declaration requirements.
Who will be able to apply?
In order to qualify for the grant your business must:
- 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
- Only import or export goods between Great Britain and the EU, or move goods between Great Britain and Northern Ireland, if you already import or export goods from or to a non-EU country you are not eligible for his grant.
In addition your 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)
How to apply
PricewaterhouseCoopers (PwC) is administering the grants on behalf of HMRC.
You need to contact them quickly though as applications will close on 30 June 2021 or earlier if all funding is allocated before this date.
Apply online through Price Waterhouse Coopers.
If you have any other questions or would like to know more, feel free to contact us by emailing firstname.lastname@example.org or call the office on 01423 567499.