Flood relief for businesses

The Prime Minister has announced a series of measures to help businesses hit by the recent severe floods say Harris & Co accountants Northampton.

Speaking at a conference at Number 10 yesterday summarising the government’s response to the severe floods, Cameron said: ‘Money is no object in this relief effort. We will take whatever steps will be necessary.’

The prime minister went on to outline a package of measures including a possible tax deferral scheme for businesses in affected areas. In response to questions, he indicated that this would offer a three month period of respite. However, he did not specify which taxes or which areas would be included, saying there would be more announcements giving details of the scheme ‘over the next few days’.

The government is also providing a £10m grant for farmers who, Cameron said, ‘faced devastation to their livelihood’. The prime minister said the government was calling on insurers to speed up the process for settling claims for flood damage and  had asked the Association of British Insurers and the CBI to organise a meeting to ‘develop further measures to support business’. There are also plans to offer affected households a £5000 grant towards improving protection against floods.

HMRC is yet to confirm details of any arrangements.