SME Brexit Support Fund open for applications

The application process for the SME (Small and medium-sized enterprise) Brexit Support Fund is now open. The £20 million SME Brexit Support Fund enables businesses to access practical support, including training for new customs, rules of origin and VAT processes.

Small and medium sized businesses that trade solely with the EU – and are therefore new to importing and exporting processes – are encouraged to apply for the grants. These businesses will be able to apply for grants of up to £2,000, which will be used to pay for practical support including training and professional advice to ensure they can continue trading effectively with the EU.

What is the SME Brexit Support Fund?

The SME Brexit Support fund is designed to help businesses who trade in the EU to navigate the uncertain teething problems of Brexit. Since the UK left the EU officially on 1^st January 2021, the importing/exporting processes and logistics have changed considerably for many businesses trading with other EU countries.

You can use the grant 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.

This follows the government setting out a new timetable for introducing import border control processes to enable UK businesses to focus on their recovery. Full import border control processes will now be introduced on 1 January 2022, six months later than originally planned.

Who is eligible for the SME Brexit Support Fund?

To be eligible, businesses must import or export goods between Great Britain and the EU, or move goods between Great Britain and Northern Ireland.

This follows the government setting out a new timetable for introducing import border control processes to enable UK businesses to focus on their recovery. Full import border control processes will now be introduced on 1 January 2022, six months later than originally planned.

To be eligible businesses must:

• Be established in the UK.
• Have been established in the UK for at least 12 months before submitting the application, or currently hold Authorised Economic Operator status.
• Not have previously failed to meet its tax or customs obligations.
• Have no more than 500 employees.
• Have no more than £100 million turnover.
• Import or export goods between Great Britain and the EU, or moves goods between Great Britain and Northern Ireland.

Your business must also either:

• Complete (or intend to complete) import or export declarations internally for its own goods.
• Use someone else to complete import or export declarations but requires additional capability internally to effectively import or export (such as advice on rules of origin or advice on dealing with a supply chain).

How can I apply for the SME Brexit Support Fund?

You can apply for the SME Brexit Support Fund by clicking here. If you require any other information on the eligibility of the funding then check out the dedicated government page outlining who can apply and how to apply.

Need our help?

If you require further information on any government Brexit or COVID-19 loans and grants, or any other accounting matter, please don’t hesitate to get in touch with a member of our team.