This grant is designed to help businesses who have been trading with customers or suppliers in the EU, but not with the rest of the world. So prior to 2021 they will not have had to deal with import or export procedures.
These small and medium sized businesses can apply for a government grant worth up to £2,000 to help pay for training and professional advice to help with; customs and excise duties, import VAT, or safety and security declaration requirements.
To qualify for the grant the business must meet all of these criteria before applying:
- No more than 500 employees
- Maximum annual turnover of £100 million
- Be up to date with all tax and customs obligations
- Be established in the UK for at least 12 months or hold Authorise Economic Operator status
The business must either complete its own import/ export declarations or currently use an external service to do this as they lack the capability within the business.
Applications must be made online by close of business on 30 June, so there is not much time to apply!
Written by the Tax Advice Network