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Flooded Restaurants Get Relief
UK restaurants hit by the unseasonal weather, which caused widespread flooding, will get some relief from the taxman if not the rain.
Her Majesty's Revenue & Customs (HMRC) has announced a package of measures designed to help those worst hit get back on their feet financially.
The Chancellor of the Exchequer announced on 25 July that the Government will bring forward retrospective legislation in next year's Finance Bill to allow HMRC to waive interest and surcharges on tax paid late due to the floods. The Commissioners will exercise their discretionary power not to collect such interest and surcharges in the interim.

In addition, HMRC will also be able to:
• defer collection of taxes and duties or agree instalment arrangements where customers are unable to pay as a result of severe hardship.
• introduce practical arrangements where individuals and businesses have lost records in the flooding
• suspend debt collection proceedings
• defer compliance checks and investigations
• not charge penalties where we are satisfied that customers have missed deadlines as a result of the flooding
• provide help and advice in dealing with other practical tax matters arising as a result of the flooding.

This new Helpline is in addition to HMRC’s other telephone contact numbers: 0845 3000 157 and will be open seven days a week from 8.00am to 8.00pm.

For more info visit: http://www.hmrc.gov.uk


Melissa Cole
United Kingdom
London
Melissa Cole
United Kingdom
London
 
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