Small Businesses: Corporation Tax

Treasury written question – answered on 15th October 2020.

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Photo of Alex Cunningham Alex Cunningham Shadow Minister (Justice)

To ask the Chancellor of the Exchequer, if he will make it his policy to provide a Corporation Tax payment break or exemption to small businesses for the next 12 months.

Photo of Jesse Norman Jesse Norman The Financial Secretary to the Treasury

The Government has established an unprecedented package of support for businesses to help them get through the pandemic, including support for businesses in difficulty with their Corporation Tax (CT) payments. HMRC have scaled up their Time to Pay service where any taxpayer with outstanding debts to HMRC may be able to agree tailored plans to defer certain tax payments owed, including CT, and repay them over an agreed period of time.

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