The UK Government has just announced a £20 million SME Brexit support fund to adjust to new customs and VAT rules when trading with the EU.

SMEs which trade with the EU will be entitled to grants worth up to £2,000 for each trader and can use this money to pay for support, which includes training and professional advice.

The grant will be made open for applications next month (date to be confirmed) and will be administered through the pre-existing customs grant scheme.

Michael Gove, Chancellor of the Duchy of Lancaster, said:

“This new targeted funding will see small businesses get more of the practical support they need to adjust to the new processes and prepare for further changes as we implement our own import controls in April and July.”

Afford Bond Director, Paul Edwards said: “We have several clients dealing with the transition period at the moment and the minimal time given to businesses to adapt to the end of the transition period has disproportionately impacted some of their goods trade, especially during an unprecedented pandemic. We hope that this new scheme will support all SMEs dealing with changes to services so that trade can continue more easily for the benefit of all.”

If you or your business need professional service support for government grant applications, tax advice, business funding or corporate finance, please contact us on Nantwich Accountants T: 01270 623 731 or Wilmslow Accountants T: 01625 416380.