26 Feb 2021Small and medium-sized enterprises (SMEs) requiring advice on imports and exports will be able to apply for a grant of up to £2,000, HMRC has confirmed. HMRC recently published guidance on the grants available to SMEs under the government's SME Brexit Fund. As part of the scheme, businesses with up to 500 employees and a turnover of up to £100 million will be entitled to apply for a grant of up to £2,000 to pay for professional advice or employee training. The grants are designed to help businesses that are new to importing or exporting goods meet customs, excise and import VAT requirements. To be eligible for a grant, a business must have been established in the UK for at least 12 months and is required to have met all its tax and customs obligations. Businesses will need to outline that they are new to importing or exporting and that they are UK established. The guidance also states that the grants can be used to pay for professional importing and exporting advice. More information can be found here.