HM Revenue & Customs (HMRC) has announced a new £16 million Brexit Grant fund for businesses to claim grants to cover Brexit related costs.
Last month the Government investing £2.1 billion into departments in preparation for a no-deal scenario, which doubled the Brexit preparation funding in 2019.
Businesses can access funding for the following:
- Training that assists the business to complete processes and customs declarations
- Improvements to IT infrastructure to assist the business in the completion and efficiency of customs declarations
Grants can be used to reimburse any expenses related to the above guidelines that have been incurred since 31 July 2019.
The funding is open to businesses that are either established in the UK or have an office in the UK when the grant is received, businesses must not have previously failed to meet any tax obligations to receive the funding.
Jesse Norman MP, Financial Secretary to the Treasury, said:
“Brexit takes place on 31 October and we urge all businesses to make the necessary preparations to be fully ready. The government has doubled the support available so that thousands more customs experts are on hand to help businesses on and after Brexit day.”
Businesses can receive up to 100 per cent of the total cost of training for staff up to £2,250 per course, as well as any internal training, which is also up to £2,250 per course.
You can read the Government’s guidance on the Brexit grant fund here.