Taxman Praised for Doing His Bit to Help Housebuilders Cope with Credit Crunch ; Finance

Birmingham Post › February 04, 2009

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Summary

Chartered accountants Clement Keys have taken the unusual step of praising HM Revenue & Customs, saying the department should be applauded for the speedy and sympathetic way in which it is dealing with VAT in relation to the impact of the credit crunch on the residential housing market.

Business advisers rarely pay tribute to the taxman, but the firm said action by HMRC had helped many companies who were unable to sell their current housing stock and had suspended current and future developments, laying off thousands of staff and contractors. These businesses are under pressure at the same time from their financiers to service their loans and overdrafts.

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Taxman Praised for Doing His Bit to Help Housebuilders Cope with Credit Crunch ; Finance

Without income from house sales, housebuilders are having to look into...

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