HMRC will be looking to contact businesses who fall within the definition of a Mid-sized Business (MSB), so it is likely that certain MSB clients will receive contact from HMRC seeking their views on the effect of the pandemic on their business.
HMRC defines an MSB as a business with:
According to the recent article published in HMRC’s Agent Update issue 80 , HMRC have stated that they are committed to helping businesses get the assistance and support they need about tax matters. In particular, they are keen to gain a better understanding of how COVID-19 has impacted the construction industry.
HMRC will be writing to MSBs or their agents within the construction industry, to seek their views on the following areas to enable HMRC to target their support accordingly:
Whilst it is not yet clear what level of ‘support’ might be on offer, any additional assistance could have a positive impact the construction sector going forward.
If you act for a business within construction that meets the definition of an MSB and would like to discuss these issues further, please feel free to contact us at email@example.com or talk to our expert team at The Guild on 020 8515 2975. We’re here to help.
The content of this article is for guidance only and shall not constitute advice. Please seek independent advice or contact The Guild for information about its services.