HMRC launches growth support service for mid-sized businesses

HMRC has launched its new ‘growth support service’, through which mid-sized businesses (those with a UK turnover above £10 million or at least 20 employees), can apply for dedicated specialist help with compliance, or guidance on available reliefs, where the business is undergoing particular forms of growth. The government first announced its intention to pilot the new service at Autumn Statement 2014, which it confirmed in the business tax roadmap in March 2016. The types of growth which may indicate eligibility for the service are:

• significant increase in turnover;
• mergers and acquisitions;
• group reorganisation;
• listing on stock market;
• significant introduction of capital;
• first time notification of meeting senior accounting officer conditions;
• making CT quarterly instalment payments for the first time;
• entering VAT payments on account regime;
• exporting goods or services for the first time;
• establishing a presence in a new territory.