Flood-hit firms get tax relief

HMRC agrees to ease tax burden of businesses left decimated by last week's floods

HM Revenue and Customs (HMRC) has agreed to offer tax assistance to UK firms most affected by the recent flooding.

The Federation of Small Businesses (FSB) has also gathered together a £500,000 relief fund for its members to access interest-free loans to help them through any short-term problems due to flood damage.

As featured in CRN today, some of the worst hit areas in the UK have been Worcestershire, Warwickshire, Gloucestershire, Oxfordshire, Lincolnshire and Berkshire. Many firms are turning to the channel to help get their IT systems up and running.

John Wright, national chairman of the FSB, said: “I warmly welcome the decision by HMRC to offer businesses help with their taxes in the short term as they recover from the floods. All assistance is gratefully received as the flood waters recede and this will go a long way to ensuring that more businesses can remain solvent until they can trade again.”

“I would urge any business affected by the floods to ensure they get the help they can from their local tax office and any FSB member affected should contact their regional office to access the flood relief fund that we have set up.”