Budget 08: Tax concessions for national disasters
No interest on late payments for flooding victims
The taxman is to waive the right to interest on taxes paid late if they were
held because of a national disaster.
HMRC will also waive surcharges payable on late returns if they too are
caused by events such flooding which devastated parts of the country in June and
July last year.
The provision, to be introduced in the 2008 Finance Act will be modelled on
the concessions given to the victims of foot and mouth disease in 2001.