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TAX NEWS

Limited window for SMEs to apply for Brexit support grant

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Published: 29 Mar 2021 Update History

Businesses qualifying for a grant under the Brexit Support Fund only have until 30 June 2021 to apply and may not succeed if the £20m fund runs out before the deadline.

The Brexit Support Fund provides grants of up to £2,000 to small and medium-sized enterprises for training or professional advice to help meet their customs, excise, import/export VAT or safety and security declaration requirements.

The fund was announced in February 2021, and HMRC’s guidance has been updated to confirm that applications can now be made online and that the closing date is 30 June. It also states that the fund may close for applications earlier if all funds are allocated.

Applications can be made for a training grant, a professional advice grant, or both, but the total amount of funding requested cannot exceed £2,000.

Advice provided by ICAEW members competent to deliver consultancy services in these areas would qualify for grant funding if the expenditure was made on or after 11 February 2021.

The expenditure would have to be evidenced and submitted by the applicant within two calendar months of the grant offer being issued, and by 31 August 2021 at the latest.

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