News Flood help
Goole area individuals and businesses affected by the recent floods could receive a helping hand from the Government following an announcement last week by HM Revenue and Customs (HMRC).
The Government will bring forward legislation in next year's Finance Bill which will allow the commissioners of HMRC to waive interest and surcharges on tax paid late due to the floods.
HMRC will be able to defer collection of taxes and duties - or agreeing instalment arrangements where customers are unable to pay as a result of severe hardship - suspend debt collection proceedings, defer compliance checks and investigations, and introduce practical arrangements where individuals and businesses have lost records in the flooding.
HMRC will not charge penalties where it is satisfied that customers have missed deadlines as a result of the flooding. The Government proposes to make this legislation retrospective from July 26.
"I want to ensure that people affected by the flooding do not have to worry about tax or their tax credit award at this difficult time," said Jane Kennedy, financial secretary to the Treasury and Minister for HMRC.
"Where individuals or businesses are affected by the flooding, I would ask them to get in touch with HMRC who will be able to offer practical help. I hope that, by offering this help now and the re-assurance that HMRC will back-date their help, we can ease some of the anxiety that is affecting so many people and businesses."
Published on 9th August 2007 in News.
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