Taxation: Self-assessment

(asked on 6th January 2021) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what financial support he has made available for businesses that have not been registered for self assessment before 2018.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 14th January 2021

Throughout this crisis, the Government has spent over £280 billion to make available a package of support for businesses which has included billions in wage support, loans, tax deferrals, business rate reliefs, and general and sector-specific grants.

These schemes were designed with two principles in mind; the need to target support at those who most need it, and the need to protect the exchequer against error, fraud, and abuse. The Government needs to balance its commitment to support people through the pandemic, with its duty to protect the taxpayer and ensure that public funds are managed responsibly.

The Government has acknowledged that it has not been possible to support everyone as they might want. The practical issues that have prevented the Government from being able to include businesses that did not register for self-assessment before 2018 for the previous SEISS grants, namely that HMRC will not have access to their self-assessment returns in time to verify their eligibility, still remain. However, those businesses may still be eligible for other aspects of the generous support package.

Reticulating Splines