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News - 21 August 2009

Regional Minister urges businesses to exercise their right to defer taxes

South East Regional Minister Jonathan Shaw said that £500m of taxes have already been deferred in South East, but he urged more businesses to take up the support available to them to help them through the recession.

He added, that whilst many businesses had responded to the help on offer, very many more had still not taken advantage of this opportunity and he is calling for more to take up their entitlement.

Businesses can defer the burden of tax bills by making an agreement with HM Revenue and Customs. This means they retain their cash, can be more flexible about their finances and can grow their business. In extreme cases, it could mean companies stay afloat rather than go to the wall.

By the beginning of August more than 28,000 agreements had been made in the South East; the amount of taxes for which payment has been spread totals £500m in the region. Of the 28,000 agreements, 1,060 were from businesses based in Brighton and Hove, representing a total value of £16m.

The following four schemes have now been highlighted by the Minister:

  • Time to Pay
  • Prompt Payment Code
  • Business Link Health Checks
  • Enterprise Finance

Further details of these schemes are available in the Minister’s full press release which can be downloaded by clicking on the link below (Microsoft Word document, 44.5KB or 45,568 bytes). Media enquiries to: Jane Manning, Press Secretary to the South East Regional Minister, Tel: 079 207 51161 or e-mail: jane.manning@gose.gsi.gov.uk.


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