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21 September 2017

New tax service to help mid-sized companies

A new expert service to directly help mid-sized businesses with their taxation as they expand and grow has been launched by HM Revenue and Customs.

The Growth Support Service will offer tailored support to organisations with more than 20 employees, or with an annual turnover of £10 million.

Eligible expanding businesses will be assigned a "dedicated growth support specialist" to give tailored tax advice including technical assistance and guidance on how to access incentives and tax breaks.

Large enterprises already enjoy the benefits of an allocated tax office expert, prompting critics to allege the HMRC is too close to big business.

The Gov.uk website, reads: "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 Small Business Online Forum for small businesses and the self-employed."

According to the HMRC, there are around 170,000 mid-sized businesses in Britain.

The top five sectors set to benefit from the service include manufacturing, IT, admin and support, professional, scientific and technical services as well as retail and wholesale.

Eligible companies can apply for the benefit online and will be given access to the Growth Support Service for three to six months.

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Email: enquiries@bpcollins.co.uk

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