20,000 firms allowed to delay tax payments

Wed Jan 14, 2009 6:19pm GMT
 
Email | Print | | Single Page
[-] Text [+]

LONDON (Reuters) - More than 20,000 cash-strapped businesses have been allowed to delay tax payments in the last six weeks, the tax authority said on Wednesday.

HM Revenue and Customs said a scheme, launched in the pre-budget report in November, had enabled firms owing more than 350 million pounds in tax to spread out their payments.

Firms have suffered in recent months as the global financial crisis led banks to cut off credit lines, leaving thousands of firms with cash-flow problems.

"This is providing real help to business across the whole country," Treasury minister Stephen Timms said. "This new scheme is helping businesses to stay open and keep their staff in jobs."

 
Anthony Bolton, president for investments at Fidelity International, an affiliate of Boston-based Fidelity Investments, the world's biggest mutual fund firm, listens to a reporter's question during a news conference in Seoul October 21, 2009.   REUTERS/Lee Jae-Won
Bolton bets on China

Top-performing fund manager Anthony Bolton says he plans to return to managing money next year, with a focus on the increasingly important Chinese market.  Full Article 

Market Update

  • UKUK
  • USUS
  • Europe
  • Asia
  • UK Most Actives

Most Popular Business News on Reuters UK

  • Articles
  • Videos