The UK Government has announced a support scheme to help businesses which have not previously traded outside the EU to adapt to the new rules, many of which do not actually come into effect until July 2021.
A £20 million SME Brexit Support Fund to support small and medium sized businesses (SMEs) adjust to new customs, rules of origin, and VAT rules when trading with the EU.
SMEs who trade only with the EU and are therefore new to importing and exporting processes will be encouraged to apply for grants of up to £2,000 to pay for practical support, including training and professional advice to ensure they can continue trading effectively with the EU.
All UK businesses, which are owned by EU based mother companies will be in this position, and can therefore take advantage of this funding support.
The UK Border Operating Model sets out the detail of the new arrangements and when they will be implemented here.
