Business: Taxation

Treasury

Written answers and statements, 4 November 2009

All Written Answers on 4 Nov 2009 Next answer » « Previous answer


Photo of Jim Cunningham

Jim Cunningham (Coventry South, Labour)

To ask the Chancellor of the Exchequer how many small businesses (a) in Coventry and (b) in the UK have applied to defer their tax payments over the financial year under the Government's late payment scheme.

Photo of Stephen Timms

Stephen Timms (Financial Secretary, HM Treasury; East Ham, Labour)

Since its introduction on 24 November 2008 the Business Payment Support Service has agreed over 220,300 time to pay arrangements in the UK with businesses to spread tax payments of about £3.9 billion. This has helped to support more than 150,000 businesses, the vast majority of whom are small and medium sized, and employ an estimated 600,000 people. Over 90 per cent. of the value of arrangements is being paid on time without prompting.

Figures for Coventry show that nearly 840 arrangements have been agreed worth £18 million. HM Revenue and Customs does not have the specific number of small businesses as the service is open to all sizes of business and some businesses might have more than one agreement to spread payments of more than one type of tax.

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