SOCIAL Security contributions and GST payments that were deferred to help businesses in the wake of Covid-19 are being steadily recovered by the Government – with £7.5 million still outstanding.
The Treasury Department said that the figure had been reduced from £10m since the start of the year.
At the height of the pandemic, the Government implemented a range of measures to support businesses, including the deferral of GST and Class 1 Social Security payments.
Following written questions from Public Accounts Committee chair Deputy Inna Gardiner earlier this year, it emerged that – at the end of 2024 – 163 businesses still owed deferred GST payments totalling £2.6 million, while 823 businesses owed deferred Class 1 Social Security payments totalling £7.7 million.
In a statement on Wednesday, the Treasury Department said: “In early 2025 all businesses with Social Security and GST deferrals were written to with a view to setting up affordable repayment plans.
“Since the start of 2025, Social Security and GST deferred debt has reduced from £10 million to £7.5 million as businesses have made payments against agreed payment plans.”
