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Business: Government Assistance

Volume 507: debated on Wednesday 17 March 2010

To ask the Chancellor of the Exchequer how many businesses in Wolverhampton have been visited by representatives of his Department’s time to pay initiative during the recent recession. (322261)

Since its introduction on 24 November 2008 and up until 7 March 2010, HMRC’s Business Payment Support Service (BPSS) has agreed over 303,000 time to pay arrangements with businesses in the UK to spread tax payments of just under £5.2 billion over a period they can afford.

During the same period, BPSS agreed 990 time to pay arrangements worth £20 million with businesses in Wolverhampton.

To ask the Chancellor of the Exchequer what estimate he has made of the monetary value of capital allowances to UK industry in the latest year for which figures are available. (322262)

The value to UK industry of capital allowances arises from the tax relief given against profits from specific capital allowances on investment. As set out in the 2009 pre-Budget report, the latest estimate of the value of the relief is £21,100 million for 2009-10:

http://www.hm-treasury.gov.uk/d/pbr09_taxreadyreckoner.pdf