News Column

Financial help is on the way

February 13, 2014

BANKS, building societies and the taxman are offering a helping hand to support flood victims and ease the financial stress on families and businesses.

Lloyds Banking Group, Nationwide, Royal Bank of Scotland, NatWest, HSBC and Santander have all announced measures including special helplines, offers of mortgage repayment holidays, overdraft extensions and speeded-up cash loans to cover emergency costs.

Meanwhile, HM Revenue and Customs (HMRC) has also launched a phone helpline - 0800904-7900 - for anyone affected by the floods to get help with tax problems.

HMRC said it will will agree "a practical approach" where people and businesses have lost records due to the floods, suspend debt collection proceedings for those affected and cancel penalties when the taxpayer has missed deadlines.

It will also agree payments to be made in instalments in cases where taxpayers are unable to hand over the money as a result of the floods.

Lloyds Banking Group has announced a [pounds]250m fund to provide fee-free lending for businesses and farmers.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Northern Echo (England)

Story Tools