THE department For Business, Energy and Industrial Strategy (BEIS) has outlined the action the government is taking to help businesses to prepare for Brexit:
1) Allocating an additional £2.1 billion for no deal Brexit preparations, doubling funding for this year (Treasury total funding for Brexit is £6.3 billion). This includes £108 million to support businesses to get ready.
2) A £10 million Brexit Readiness Fund for trade associations and other business organisations to help, including events, training and advice packs.
3) A new Business Finance Council to be established to support SMEs through Brexit by identifying and addressing any barriers faced by small and mid-sized businesses in securing the finance they need.
4) HMRC recently announced it is auto-enrolling 88,000 VAT registered businesses for EORI numbers so they can continue to trade with their customers in the EU after 31 October. Those non-VAT registered businesses that cannot be auto-enrolled are urged to come forward and register. The process takes less than 10 minutes and is easy to find on the GOV.UK website.
5) HMG Brexit Readiness Roadshows, led by BEIS, are also being held across the country where local businesses will be able to hear about what they need to do to prepare and get tailored support. The events are completely free. All TN readers need to do to attend is register.