Grants Available for Businesses Operating Imports and Exports

by | Nov 26, 2021 | Accountant

If you export to or import from the EU, then this is essential information for you. There may be a government grant available to you if you meet the qualifying criteria. More specific details exist on the government’s website: Import Export Grants. The main issue is that you must apply before 30th June. This grant is a government grant, but the PWC administers it. These grants are available for businesses that carry out imports and exports. The imports and exports must be between Great Britain and the EU, not with the rest of the world. Small and medium-sized businesses can apply for these grants, which are worth up to £2000. The grants assist with various import/export aspects, including customs and excise duties, import VAT, and safety and security declaration requirements.

There are strict criteria in place for a small or medium-sized business to apply for these grants. These criteria are:
1. The business must be current with all tax and customs requirements.
2. The business must be well established in the UK for at least 12 months, or the company must have an Authorised Economic Operator Status.
3. The business must complete its import/export declarations. If it cannot do this, it must use an external company to accomplish this.
4. The business must have only imported or exported goods between the UK and the EU and not imported or exported goods from or to a non-EU country.
5. The business may have a maximum of 500 employees.
6. The business must have a maximum annual turnover of £100 million.

Remember, time is of the essence for this grant program! Applications must arrive by the end of the business day on 30th June. Please check the criteria to ensure that your business qualifies for these grants. You may contact David Beckman and Co LTD if you require any assistance in the application process. They are certified tax accountants Epsom and are available to help you!

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