New penalty regime for overseas taxes.URGENT: If you Import or Export or know someone who does then this is for you but you don’t have much time!!!!!

If you export or import from the EU then this email is for you, or if you have any friends or fellow business owners you know who do! Then you just might be able to do them a favour

 

There is the possibility of a Government grant being available if you meet the qualifying criteria.  You can find out more details on the governments website on this here at:-

https://www.gov.uk/guidance/grants-to-help-small-and-medium-sized-businesses-new-to-importing-or-exporting

The problem is there isn’t much time as you have to apply before 30th June.  It’s a government grant but it is being administered on behalf of the government by PWC…..

To apply or to find out the full details, please click the link above.

A brief overview is:-

Available for businesses operating imports and exports

Grants for import and export

This grant is designed to help businesses who have been trading with customers or suppliers in the EU, but not with the rest of the world. So prior to 2021 they will not have had to deal with import or export procedures.

These small and medium sized businesses can apply for a government grant worth up to £2,000 to help pay for training and professional advice to help with; customs and excise duties, import VAT, or safety and security declaration requirements.

To qualify for the grant the business must meet ALL of these criteria before applying:

  • No more than 500 employees
  • Maximum annual turnover of £100 million
  • Be up to date with all tax and customs obligations
  • Be established in the UK for at least 12 months or hold Authorise Economic Operator status
  • The business must either complete its own import/ export declarations or currently use an external service to do this as they lack the capability within the business.

Applications must be made online by close of business on 30 June, so there is not much time.

 

To apply you also need to click the link! 

 

It is important that you take professional advice before making any decisions based on the information that you learnt here. While every effort has been made to make sure it is accurate it cannot be precisely tailored to your personal circumstances. This article is for general information only and no action should be taken, or refrained from, as a result of this information.  Professional advice should be taken based on specific circumstances in each individual case.  Whilst we endeavour to ensure that the information contained in the article is correct, no liability  will be accepted by KMA Accountancy which is a trading name of Kim Marlor Associates Ltd or damages of any kind arising from the contents of this communication, or for any action, inaction  or decision taken as a result of using any such information.

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