BusinessCompany NewsCameron pledges tax respite for riot-hit businesses

Cameron pledges tax respite for riot-hit businesses

Tax deferrals and business rates hiatus for those 'in greatest need', says the prime minister

PRIME MINISTER David Cameron has promised businesses hit by the riots will be allowed to defer tax payments while they recover from the damage they have suffered.

He gave the undertaking in the Commons during an emergency statement on the disorders affecting London, Croydon, Birmingham and Manchester.

He told MPs: “We will defer tax payments for businesses in greatest need, through Time to Pay and other practical support.”

He said the Valuation Office had been instructed to immediately stop liability for council tax and business rates for businesses that had been most badly damaged.

Mr Cameron also announced businesses will have 42 days instead of 14 to seek compensation under the Riot Damages Act so they can receive compensation even if uninsured.

He said the government will ensure the police have the funds they need to meet the cost of any legitimate claims.

The government is also setting up a new £20 million high street support scheme to help affected businesses get back up and running quickly.

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