Growing businesses to benefit from HMRC tax support
27 September 2017
A new free bespoke service has been launched by HMRC to directly help mid-sized businesses as they expand and grow.
There are around 170,000 mid-sized businesses registered in the UK. Businesses with either a turnover of more than £10 million or more than 20 employees, and undergoing significant growth, can now seek expert help from HMRC growth support specialists.
Known as the Growth Support Service (free to eligible mid-sized businesses), HMRC tax experts will offer dedicated support, tailored to the customer’s needs. It has been created to help growing, mid-sized businesses access the information and services they need. This could include:
- Helping with tax queries about their growing business
- Supplying accurate information and co-ordinating technical expertise from across HMRC
- Supporting them to get their tax right first time and access relevant incentives or reliefs
Businesses who meet the eligibility requirements can apply online; they will then be contacted by their dedicated growth support specialist at HMRC, to discuss their requirements. The bespoke service will generally last between three to six months.
The top five industries and sectors that could benefit from the Growth Support Service are:
- Manufacturing (for example building, printing or maintenance firms)
- Information and communication (for example IT or software companies, film makers or publishers)
- Administrative and support services (for example vehicle hire companies, recruitment agencies or call centres)
- Professional, scientific and technical services (for example law and accountancy firms or quantity surveyors)
- Wholesale and retail (for example high street shops, food and drink outlets or car showrooms)
The introduction of the service demonstrates HMRC’s continued commitment to support UK businesses get their tax right. In addition to the existing customer relations service for large businesses; last month, the department launched the online small business forum for small businesses and the self-employed.
Go to GOV.UK for further guidance on the growth support service eligibility criteria and online application.