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MIA  MOTORSPORT INDUSTRY ASSOCIATION

HMRC growth support service could fund a free tax adviser for your business

01 Oct 2018

If your UK business, employs 20 or more people or has annual sales above £10 million you may be eligible for specialist tax adviser and HMRC will foot the bill!

Understanding what impact tax systems and financial incentives and reliefs have on the growth of your business is crucial.

To support firms to have a better understanding of the tax issues they face, and the incentives or reliefs they can claim in periods of growth, HMRC has a Growth Support Service. This service applies to firms with a turnover of above £10 million or at least 20 employees, and which are experiencing certain types of growth. For example, these could include recent significant growth in turnover, buying or merging with other companies, introducing more capital, listing on the stock market, exporting for the first time as well as many other factors.

https://www.gov.uk/guidance/get-help-with-tax-as-a-growing-mid-sized-business

Through the Growth Support Scheme will appoint a dedicated tax specialist to work with you (or your agent) and help you …:

- understand new tax issues and reporting requirements
- get your tax right before you file your return
- consider reporting and governance risks that may be caused by the growth of your business
- access any financial incentives and reliefs for which you may be eligible
- access HMRC specialists, services and guidance relevant to your business

To find out more about this initiative and whether you are eligible to apply, visit HMRC’s Growth Support Service webpage.

Your Growth Support specialist can only support you in regard to tax matters, but will contact you and agree the period during which HMRC will support.

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