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Taxman Helps those Affected by Foot and Mouth |
| A number of our clients are, obviously, affected and worried by the current foot and mouth crisis. This does not only include farmers and tourist trades, but periphery businesses such as hauliers, stables etc. Although in many cases the effects may be devastating, Carole Sprague, of our Ely office, notes that the government is now introducing measures to assist those affected: |
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"The Government recognises the cashflow problems currently being suffered by various industries and has advised the Inland Revenue and H M Customs and Excise to not be too hard with businesses struggling to pay tax as a result of the foot and mouth outbreak. Any such business can apply for the deferment of self assessment based tax (both income tax and corporation tax), PAYE/NIC and VAT. The Revenue have already confirmed that those in serious financial difficulty, as a result of foot and mouth, will not have to pay interest on any such deferred tax or NIC. Each case will be considered on its own merits and if there are any problems, a Foot and Mouth Co-ordinator has been appointed in each tax office to help sort them out. As always", Carole concludes, "we shall be more than willing to negotiate with these tax authorities in this regard, on behalf of our clients." |
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