Tax gap remains steady at 5.1%
HM Revenue and Customs data has revealed the estimated tax gap for the 2020-21 tax year is 5.1 per cent – the...READ MORE
The HMRC is providing a further £10 million in grants for customs agents and intermediaries to build capacity in managing customs declarations ahead of Brexit.
Following the recent £16 million investment to provide funding towards training and IT costs for businesses that complete customs declarations, HMRC has announced that it will provide a further £10 million in grants for customs agents and intermediaries to build capacity in managing customs declarations.
This additional wave of grants, which follows the £5 million made available from December 2018 and the £16 million made available in September 2019, has been developed to directly respond to industry feedback on what is needed to help build capacity ahead of, or after, Brexit on 31 October, the government said on Tuesday.
The further £10 million in grants is open to businesses based in, or with a branch in, the UK, that currently complete customs declarations for importers and exporters. The funds are aimed to support costs of hiring staff, including £3,000 for recruitment costs, and up to £10,000 for salary costs, to help build business capacity.
Businesses that will benefit from the funding are encouraged to apply early, as applications will close once all the funding has been allocated, and by 31 January 2020 at the latest. The government explained that those that applied for the first and second wave may apply again as part of this new wave of grants.
PwC is administering the grants on behalf of HMRC as an accredited grant administrator. Businesses that want to apply for funding should not contact HMRC, but can apply online.