The UK is due to leave the EU on 31st October 2019. This will affect how the UK does business with its current EU Partners. Below we outline the grant funding available and the conditions to qualify.
Due to the upheaval for businesses in getting to grips with the new customs procedures, HMRC are offering grants for:
- Training team members that help your business complete customs declarations.
- IT improvements necessary to help your business complete customs declarations more efficiently.
Amounts of Funding Available:
The grant will give you up to 100% of the cost of training for your employees, up to a limit of £2,250 for each course.
It will also cover the cost of training you run internally, up to a limit of £250 for each employee on the course.
IT improvements Grant:
The grant will give you up to €200,000 (the maximum amount of state aid available).
There are a number of conditions to qualify for a grant, the main ones being:
Your business must either:
- Complete customs declarations (or intend to); or
- Import from, or export to, the EU and complete customs declarations (or intend to).
IT Improvements Grant:
Your business must:
- Currently complete customs declarations for importers and exporters.
- Have 250 employees or fewer.
- Have an annual turnover of less than €50 million.
The grants must also be used for a specific purpose as follows:
The training must give you or your employees the skills to:
The training does not have to lead to a formal qualification.
IT improvements Grant:
You must use the funding to buy software that will help your business to complete customs
declarations more efficiently. It must be a ready-made solution, you cannot use the funding to commission bespoke software.
You can also use the funding to:
- Buy hardware that’s needed for the software to run.
- Install and configure the software and hardware.
- Buy the first-year licence.
- Train employees to use the software.
Whilst we are unsure whether the UK will leave the EU with or without a deal, with just over a month until Brexit day it is certainly worth registering for the available grants which will go someway towards mitigating the likely costs required as a result of a new trading era with our EU partners.
If you need any support with Brexit and how it may impact your business, please contact our specialist tax team on 0161 476 8276 or email firstname.lastname@example.org.
Further guidance can be found at: https://www.gov.uk/guidance/grants-for-businesses-that-complete-customs-declarations
The information contained herein is of a general nature and is not intended to be received as formal professional advice. Whilst we endeavour to provide accurate information, there can be no guarantee that the information is accurate as of the date it is received, or that it will continue to be accurate in the future, due to legislative changes. It is therefore important that before you act upon any information contained herein you seek appropriate professional advice to take account of your exact circumstances.