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Tax help for those hit by floods

26/07/2007  10:48:56

 


 

HM Revenue and Customs (HMRC) is to introduce several tax mitigation measures to assist businesses and individuals affected by the recent flooding in many parts of the UK.

Alistair Darling, chancellor of the exchequer, made the announcement this week.

The government is to bring forward legislation in next years Finance Bill which will allow the HMRC to waive interest and surcharges on tax paid late due to the floods.

Jane Kennedy, financial secretary to the Treasury and minister for HMRC, said: "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.

"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 reassurance that HMRC will back-date their help, we can ease some of the anxiety that is affecting so many people and business."

HMRC tax mitigation measures will include the deferral of tax and duty collection in certain circumstances and the waiving of interest, surcharges and penalties for the deferral period, among others.

People are advised to contact the department if flooding has adversely affected their tax planning and payments.


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