HM Revenue and Customs has announced that the deadline for applications for an £8 million government initiative to help businesses prepare for Brexit has been extended to 31st May 2019. This will enable more businesses to benefit from the investment available and provide more time for applications. The funding will support customs intermediaries and traders completing customs declarations, and can be used to help businesses meet the costs of employee training and IT improvements.
Treasury Minister, Mel Stride MP, the financial secretary to the Treasury, said: “We are doing everything we can to get businesses ready for the UK leaving the EU, however businesses also need to take action themselves to prepare. There is help available – we have provided funding to support businesses with customs processes, and we are now extending the deadline to 31st May 2019 giving more time for applications. We have already received over 300 applications, and I’d urge businesses to apply as soon as possible to avoid missing out.”
The grant funding builds upon the ongoing efforts of HMRC to get businesses ready for Brexit, including having written several letters to 145,000 VAT registered businesses that trade with the EU to advise them how to prepare for a no deal scenario, and publishing more than 100 pages of guidance for businesses on processes and procedures at the border in a no deal scenario.
All businesses who move goods into or out of the EU – even if it’s just once a year – need to take action including getting an EORI number and understanding what declarations they need to make.
To apply for a training grant, your business must either: complete customs declarations for yourself or someone else (or intend to in the future) or import from, or export to the EU and complete customs declarations (or intend to complete customs declarations in the future).
To apply for an IT improvements grant, your business must: currently complete customs declarations for importers and exporters; have 250 employees or fewer; and have an annual turnover of less than €50 million. Applications should be made Online before 31st May 2019. Businesses can apply for both the training and IT grants.
