One of Scotland’s leading accountancy firms, Douglas Home & Company, are encouraging businesses to consider whether they might be eligible for a Brexit Support Grant.
These grants, recently introduced by the Scottish Government, have been made available to help small to medium-sized enterprises (SMEs) manage the impact of Brexit, and could provide up to £4,000 in support.
Douglas Home & Company are offering specialist advice to help businesses clearly understand whether they are entitled to apply for such grants, and to guide them through the application process.
To apply for these grants, a business must either be a VAT registered SME, or a VAT exempt business that meets the SME criteria, based in Scotland. Each organisation can only apply for this grant once.
An enterprise counts as an SME if they employ less than 250 people and have an annual turnover less than 50 million Euros, and/or an annual balance sheet of less than 43 million Euros and are independent. An enterprise is independent if no more than 25% of their capital or voting rights are owned by enterprises which aren’t SMEs.
These grants can be used to finance activities which would not otherwise take place without the grant and which have not started yet, or to claim back the costs of a project when the business can finance the entire project up front.
The kinds of activities the grants can be used for include Brexit impact scenario planning, introducing additional Brexit-related professional services, exploring supply chain issues and opportunities, training employees on relevant topics and introducing additional temporary storage facilities.
For more information on whether your business could be eligible for a Brexit Support Grant, or for advice on how to apply, please contact Andy Purves on andyp@dhco.co.uk or 01896 823506. A consultation can be arranged to understand your position and provide ongoing guidance.
Douglas Home & Company is a Chartered Accountancy and Tax Advisory firm offering expert advice and financial leadership to individuals and businesses of all sizes. They have eight offices across Scotland and North England with their headquarters located in Kelso, Scottish Borders. To find out more about Douglas Home & Co, please visit www.douglashomeandco.co.uk.
