Brexit: funding for import and export businesses
Amidst the uncertainty surrounding Brexit, HMRC is offering funding to businesses handling import and export declarations to help them prepare for exiting the customs union. Extraordinary but true.
In the event of the UK leaving the EU with no deal, UK businesses will be in the position of needing to complete customs declarations. To ease the process, businesses can apply for two grants (either singly or for both) to help them with completing customs declarations. The grants are for:
- staff training, and
- IT improvements.
Who can apply?
You can apply if your business completes customs declarations (outsourced or in-house) and is established in, or has a branch in, the UK. This includes customs brokers, freight forwarders and fast parcel operators.
When can you apply?
Applications close on 5 April – or earlier, if the funding has been exhausted, so do apply as soon as possible.
What paperwork is needed?
When you apply, you must provide your training and IT needs along with the costing quotes that you have obtained.
How much can you receive?
Funding is paid once training and IT improvements have been implemented.
If you employ fewer than 50 people and have an annual turnover of less than €10 million, you can receive 70% of training costs, up to a maximum of £1,050 per employee.
If you employ between 50 and 250 people and have an annual turnover of less than €50 million, you can receive 60% of training costs, up to a maximum of £1,050 per employee.
Larger businesses can receive 50% of training costs, up to a maximum of £750 per employee.
IT improvement grant
The grant will fund up to €200,000 (the maximum of state aid available).
How to apply?