Once Britain leaves the EU businesses will need to apply the same customs rules to goods as they would for those imported or exported from or to the rest of the world. HMRC has added an additional £16 million to its grants scheme which supports businesses with the training and IT costs associated with changes to customs declarations. The deadline for applications is the 31st January 2020 however it may be sooner if all the funding has been allocated before this date.
There are two grants available, for training costs and for IT costs. The costs must relate to the completion of Customs declarations for imports from or exports to the EU, whether the declarations are (or will be) completed for the business itself or for other businesses.
Each business is eligible to receive up to Euro 200,000 for IT costs and up to £250 per person for in-house training or up to £2,250 per course.
To be eligible for the grants, the business must have a UK establishment and a good tax record. For the IT grant, the business must have 250 employees or fewer and an annual turnover of less than Euro 50 million.
If you think your business may be eligible and you would like assistance please get in touch.