It has also set up a new helpline for anyone affected by the recent floods which will enable anyone affected by the flooding to get fast, practical help and advice on a wide range of tax problems they may be facing.

The retrospective legislation will be in next year's Finance Bill to allow HMRC to waive interest and surcharges on late tax payments due to the floods. The Commissioners will exercise their discretionary power not to collect such interest and surcharges in the interim.

In addition, HMRC will also be able to:

• defer collection of taxes and duties or agree instalment arrangements where customers are unable to pay as a result of severe hardship.
  
• introduce practical arrangements where individuals and businesses have lost records in the flooding
  
• suspend debt collection proceedings
  
• defer compliance checks and investigations
  
• not charge penalties where we are satisfied that customers have missed deadlines as a result of the flooding
  
• provide help and advice in dealing with other practical tax matters arising as a result of the flooding.

This new Helpline (0845 3000 157) is in addition to other HMRC telephone contact numbers.

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Susie Hughes
The Editor © Hardhatter 2007