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Business: Bank Services

Volume 485: debated on Tuesday 16 December 2008

To ask the Chancellor of the Exchequer (1) what support (a) his Department, (b) its agencies and (c) Her Majesty's Revenue and Customs offer to UK companies which had wholesale deposits with (i) Kaupthing Singer and Friedlander, (ii) Heritable and (iii) the UK branch of Landsbanki; (242229)

(2) what advice (a) his Department, (b) its agencies and (c) Her Majesty's Revenue and Customs has issued to UK companies which had wholesale deposits with (i) Kaupthing Singer and Friedlander, (ii) Heritable and (iii) the UK branch of Landsbanki.

I refer the hon. Member to the statement made by the Chancellor on 8 October 2008, Official Report, columns 279 and 280, and on 13 October 2008, Official Report, column 548.

Additionally, as part of a substantial package of support the Chancellor announced in PBR 2008 that HMRC had introduced a new Business Payment Support Service. Businesses in genuine but temporary financial difficulty will be offered a fast and streamlined service for arranging to pay their HMRC tax bill to a timetable they can afford. HMRC will offer further practical help by not imposing additional surcharges on the tax within a time to pay arrangement.