Submitted on Tuesday 23rd March 2021
Rejected on Tuesday 30th March 2021
Current status: Rejected
Rejection code: no-action (see below for details)
Allow CBILs loans and BB loans to be tax deductible.
Allow both CBILs loans and BB loans to qualify as tax deductible. Many businesses forced to close for nearly a year without profitable trade are now forced to not only pay interest on loans they wouldn't have otherwise needed but also pay huge tax.
Paying large amounts of tax as well as interest on loans that wouldn't have been needed otherwise without forced closures will have a dreadful impact on the future of businesses.
Businesses will have little or no working capital, may have to reduce staff numbers and will not be able to reinvest or grow. As well as other things that may not only stifle the businesses but the wider economy, at a time where growth is very much needed.
SME's need help.
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
Petitions need to call on the Government or Parliament to take a specific action.
We understand that you are concerned about the impact of Covid-19 on businesses, but we're not sure exactly what you'd like the Government or Parliament to do. Businesses do not have to pay tax on loans, which inludes Coronavirus Business Interruption Loan Scheme (CBILS) or Bounce Back loans.
We have published the following petitions, which you might like to sign:
Give all businesses a grant matching any loans under the Bounce Back Scheme: petition.parliament.uk/petitions/560349
3.144.12.205 Sat, 27 Apr 2024 02:26:07 +0100
