HMRC have confirmed that small and medium sized enterprises (SMEs) will now be able to apply to the SME Brexit Fund to support them with customs duties and VAT obligations.
What can the grant be used for?
The grant can be used either for staff training purposes or to pay for professional advice to help meet a firm’s declaration requirements, in areas such as customs, excise and matters concerning VAT.
What support is available?
HMRC will provide grants up to £2,000.
Who will be eligible?
Businesses will be eligible if they:
- Are established in the UK
- Have been established for at least 12 months before the submission of the application
- Have not previously failed to meet their tax or customs obligations
- Have up to 500 employees
- Have a turnover up to £100 million
- Import or export goods between Great Britain and the EU, or move goods between Great Britain and Northern Ireland
How to apply
This will be an online application process, which we at Lubbock Fine can provide more details on where required.
How can we help?
If you’re looking to find out more on the support scheme or looking for professional advice, please get in touch with our VAT Director, Jaspal Dhillon (email@example.com) or your usual Lubbock Fine contact.