DBEI Brexit Updates –Customs Transit Procedure Check for UK landbridge post-Brexit & Brexit SME Emergency Fund Increase

County Wexford Chamber

The Department of Business, Enterprise & Innovation have recently published two important notices for Irish businesses in relation to further preparations for Brexit:

  • Heather Humphreys TD Minister for Business, Enterprise & Innovation today urged businesses to make sure they are ready to avail of the customs Transit procedure for moving goods through the UK landbridge post-Brexit. To avail of the Transit procedure, businesses will need to have a Revenue-approved comprehensive financial guarantee in place. This comprehensive guarantee is required as financial security to cover all potential and actual customs debts such as customs and taxes. Businesses can also receive online customs training through Enterprise Ireland’s website to find out more about key customs concepts, documentation and processes
  • Heather Humphreys TD Minister for Business, Enterprise & Innovation has announced that the Brexit emergency rescue fund for businesses is being increased from €20 million to €200 million. The Rescue and Restructuring Scheme aims to offer both rescue aid and temporary restructuring aid to SMEs in financial difficulty or experiencing acute liquidity needs

To find out more about both of these announcements, visit www.dbei.gov.ie