You can’t get away from that ‘B’ word… Brexit! We still don’t know what might happen over the next few weeks. However, if  we leave the EU on the 31st October there will be immediate changes to the way UK businesses trade that may impact your business. In the same way customs, excise and VAT is applied for goods and services currently traded outside the EU, UK businesses will be required to comply.

To help UK businesses prepare, the government has set up a grant scheme with £16 million in funding available.

Grants can be used to support:

  • training costs for businesses who complete customs declarations, or who intend to in the future. Funding is up to 100% of the cost of training for your employees. It is also up to a limit of £2,250 for each course.
  • IT improvements to help your business complete customs declarations more efficiently (restrictions apply). The grant will give you up to €200,000 (the maximum amount of state aid available).

The funding can be used to reimburse what your business has spent on relevant IT improvements and training since 31 July 2019, as well as in the future.

When you apply, you’ll be asked for your business’s:

  • registered name and number
  • contact details
  • VAT number (if this applies)
  • Unique Taxpayer Reference (UTR)
  • most recent utility bill

Depending on which grant you’re applying for, you’ll need to provide information about what you’ll use the funding for.

PricewaterhouseCoopers (PwC) is administering the grants for HMRC. Applications will close on 31st January 2020 (or earlier if funding is fully allocated). To apply, click here.

If you have any questions or need more information give us a call on 01332 292022 or e-mail us at advice@cedarandco.co.uk