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Firms get help from taxman in recession
THE taxman has delayed collecting £32m from hard-pressed Sheffield businesses in a bid to keep them afloat during the recession, it was revealed today.
New government figures showed since the beginning of the downturn, HM Revenue and Customs has entered into 1,620 agreements with firms across the city to give them more time before they have to stump up their tax bills.
The taxman has also entered into 860 agreements with Doncaster firms, allowing 15m in tax collection to be delayed.
A total of 660 agreements have been made with Rotherham companies, delaying the collection of 12m in taxes, and 610 agreements with businesses in Barnsley, worth 11m.
The statistics were released as Business Secretary Lord Mandelson admitted northern England has been hit hardest by the recession.
But he insisted the Government will continue to spend "hard cash" to protect jobs and businesses.
Speaking on the eve of the Labour Party conference in Brighton, Lord Mandelson said: "Many in the northern regions of the country have been hardest hit by the recession and they have become insecure and uncertain about their jobs and future employment. I think many people by the turn of the year will start to become more encouraged as the economy picks up."
His department also released figures revealing in Yorkshire and the Humber 13,332 new cars have been bought under the Government's car scrappage scheme, which sees motorists handed 2,000 for scrapping old 'bangers'.
The Department for Business also highlighted how the Sheffield-based Fullflow Group had won a contract to supply the roof drainage system for the Olympic basketball arena.
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Weather for Sheffield
Thursday 09 February 2012
Today
Light snow
Temperature: -1 C to 1 C
Wind Speed: 7 mph
Wind direction: South west
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Light snow
Temperature: -2 C to 1 C
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