Flooding - monetary assistance
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20 February 2014
The government has announced some measures to assist those who have been affected by the recent floods and HMRC have set up a special helpline to deal with these matters.
“Repair and renew” grant for all affected homeowners and businesses
There is to be a £5,000 grant which will provide financial support for households and businesses to pay for repairs which improve a property’s ability to withstand future flooding.
At the moment there is limited detail about how the financial assistance will be given, which areas of the country it will relate to and what repairs do “improve a property’s ability to withstand future flooding”. It is likely that “merely” clearing up the mess won’t qualify for the grant, but we wait for information.
Businesses affected by the flooding will be able to apply to their local authority to get business rate relief for 3 months.
Which businesses are eligible, and how to apply, will be the subject of an announcement which is to be made shortly.
Other business taxes
HM Revenue and Customs (HMRC) will look at:
HMRC helpline for those affected by the floods, 0800 904 7900. Opening hours are Monday to Friday, 8.00 am to 8.00 pm; Saturday and Sunday, 8.00 am to 4.00 pm, excluding bank holidays.
- agreeing installment arrangements where taxpayers are unable to pay as a result of the floods;
- offering up to 3 months additional time to pay to various taxes including VAT, PAYE and corporation tax;
- agreeing a practical approach when individuals and businesses have lost vital records to the floods;
- suspending debt collection proceedings for those affected by the floods;
- cancelling penalties when the taxpayer has missed statutory deadlines