The SME Brexit Support Fund is now available: Are you eligible?

22/03/2021

Do you import or export goods between Great Britain and the EU? You could be eligible for up to £2,000 through the SME Brexit Support Fund to help you adapt to new customs and tax rules.

The £20 million SME Brexit Support Fund is now open for applications.

The grant will allow traders to access practical support, including training for new customs, rules of origin and VAT processes.

Applications opened on the 15th March 2021 and will close on 30th June 2021 or earlier if all funding is allocated before this date.

Find out more about the SME Brexit Support Fund, if you’re eligible and how to apply below.

What is the SME Brexit Support Fund?

The government has made £20 million available through the SME Brexit Support Fund. If you are eligible, HMRC may provide funding towards the costs of training and/or professional advice, to help you adapt to new customs and tax rules when trading with the EU.

What can the grant be used for?

The SME Brexit Support Fund can be used 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

The grant can also be used to help you get professional advice so your business can meet its customs, excise, import VAT or safety and security declaration requirements.

How much can I access through the SME Brexit Support Fund?

Traders can apply for up to £2,000 in total.

Am I eligible?

To qualify for the SME Brexit Support Fund your business must:

• Be established in the UK
• Have no more than 500 employees
• Have no more than £100 million turnover
• Import or export goods between Great Britain and the EU, or move goods between Great Britain and Northern Ireland

For the full eligibility criteria please visit the gov.uk website.

How do I apply?

PricewaterhouseCoopers (PwC) is administering the grants for HMRC. You can apply online here.

How can I support my cash flow when trading internationally?

There are a number of funding tools available to assist UK businesses with the challenges of importing and exporting.

From releasing cash against invoices to cover the cash flow gap to obtaining a bank guarantee that gives both parties peace of mind, it can be extremely useful for businesses who trade internationally to assess the different options available.

To find out more about all the finance options available to your business, how they can assist with the cash flow implications of international trade and how to find the most suitable facilities and providers, call us on 0800 9774833 or request a call back at a convenient time.