Let riot affected firms use TTP scheme for a second time, says FSB

After the recent violent disorder, the FSB has called on HMRC to let small businesses that have already taken advantage of the Time to Pay scheme use it again.

The Federation of Small Businesses praised the government’s actions after the riots but called on the Revenue to do more to help the UK’s smaller enterprises.

John Walker, the FSB’s national chairman, said he was concerned that businesses were unable to use the TTP scheme on more than one occasion and he urged HMRC to make sure firms that had suffered looting or been destroyed by arsonists are allowed to use the scheme again.

The FSB has welcomed the government’s plans to support firms via the high street support scheme and suspend business rates for companies that have been affected by the riots. Walker also urged consumers to support their community and keep trade local to help small businesses get back on their feet as soon as possible.

Small businesses that have suffered loss or damage should get in touch with their accountant who will be able to provide them with financial advice. HMRC has also set up a dedicated helpline to give advice to those unable to meet their VAT and other tax obligations. The Civil Disorder helpline will be manned by sympathetic Revenue staff who will agree payment schedules and offer practical solutions to affected businesses.

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