Updated on March 24, 2022
There have been a number of government assistance programmes set up for businesses, employees, and the general public since the outbreak of the COVID-19 pandemic began in February. You may learn more about: in depth.
Employing people: Employment Wage Subsidy Scheme (EWSS)
Self assessment and self-employment area includes the Covid Restrictions Support Scheme (CRSS).
Small business re-starting assistance programme (BRSS), found under Taxation of self-employed people
Starting and sustaining a business includes Debt Warehousing.
wage subsidy scheme (TWSS) for the COVID-19 Wage Subsidy Scheme
The section under “Employers”
in the department of jobs & retirement.
Warehouse extension 2022
In December 2021, certain businesses received an extension to the Warehouse programme. In order to succeed, companies must:
be qualified for warehousing and have a valid claim for any of the following government programmes between 1 January 2022 and 30 April 2022. Support Plans for COVID-19:
A Wage Subsidy Program for Employment
Restrictions for Covids Other Governmental Programs Should Be Supported Covid-19 Assistance Programs (details available in Section 4 of the Information Booklet on Debt Warehousing).
Warehouse period dates are extended as follows for companies that qualify:
Period 1’s final day
Period 1 will now come to an end on April 30, 2022. All tax returns for qualifying taxes that fall within the first period of the year will be stored.
The second quarter
In the case of clients entitled to the warehouse extension, period 2 will begin on May 1, 2022, and end on April 30, 2023. No interest is paid on the debt held in a warehouse during the second quarter.
The third period
When Period 2 concludes on May 1, 2023, the third period begins. You’ll need to come to an agreement with Revenue on a Phased Payment Arrangement for the warehoused debt before Period 2 ends. From the beginning of the third payment period through the end of the final payment, interest will be accrued.
Qualifying terms and conditions
For each tax kind, the following terms and circumstances apply to the storage of debt:
In order to calculate the debt, it is necessary to file all previous years’ tax returns as well.
Outside of the warehouse system, all taxes must be paid.
Additional rules and regulations that apply to the income tax system (IT)
IT warehousing is subject to various rules and regulations. These are the ones I’d like to point out:
By the new deadline of 10 December 2020, you must have submitted your 2019 tax return.
In 2019, you must have declared on your IT Statement of Net Liabilities that you estimate your total income for 2020 to be at least 25 percent lower than your total income for 2019.
Temporary Wage Subsidy Scheme rules and regulations (TWSS)
You have the option of storing your repayment for the Temporary Wage Subsidy (TWSS) and Employment Wage Subsidy (EWSS). As a condition of receiving the excess payment, you must prove that your business is unable to return it.
You will be kicked out of the warehousing programme if you don’t follow the rules. Interest at the full statutory rate will be imposed to any outstanding balances.
Removal from warehouse
The right to use the Debt Warehousing Scheme may be lost if returns are not filed.
When warehousing is discontinued, the following periods are released:
instant payment is due
Interest charges of 8 percent or 10 percent per year may be imposed on debtors who are subject to debt collection enforcement proceedings.
Additionally, your Tax Clearance Certificate (TCC) will be automatically revoked as a result of this action. Government support payments will therefore be halted until the compliance issues are addressed. Payments of this type include:
EWSS and CRSS are just two examples of government-sponsored initiatives that assist low-wage workers.
As a warehousing customer, you should have received an email stating the dates and amounts of inventory currently in storage. All eligible returns received up to the end of 2021 will be added to your warehouse automatically.
To maintain eligibility for warehousing, you must submit returns for those periods.
The Collector-Division General’s can be contacted to inquire about a new or expanded warehouse.
Telephone 01 738 3663 for MyEnquiries in myAccount or the Revenue Online Service (ROS).