Legislative footing for the debt warehousing scheme, announced on 2 May 2020, is now enacted. In addition, Revenue published ane Information booklet on: Warehousing of tax debts associated with COVID-19 and reduced interest rate on other tax debts, during the week. The debt warehousing scheme provides for the ‘warehousing’ of PAYE (Employer) and VAT debts […]
Issue 3 of our quarterly newsletter is now available HERE This issue covers the following topics: Pensions during the pandemic Jobs stimulus package Deciding on the future of your business Selling online and the usual tax, business and legal briefs updates Please enjoy the publication and feel free to contact us should you have any queries. […]
On 23 July 2020 the government announced the Employment Wage Subsidy Scheme (EWSS). This will replace the TWSS from 1 September. While the legislation to enact the EWSS has not been brought into law at this time, it is expected to operate as follows: Qualification Criteria for Employers – Business will experience a 30% reduction in […]
Attached is a summary of the stimulus package of measures announced yesterday. We eagerly await the legislation to enact these measures which will provide more clarity. July Stimulus 2020 (427 KB) […]
Revenue have now issued version 17 of the FAQ’s in relation to the guidance on the operational phase of the Temporary Wage Subsidy Scheme. The latest update clarifies the treatment of a re-hire where they are hired mid-month and the payroll is not a weekly payroll. In addition there is further guidance where an employee […]
Revenue have confirmed that the deferred LPT Direct Debit Payments for 2020 will now be deducted on 21 July 2020. […]
FMB are hiring. See what is available in our jobs section Interested candidates should forward their CV to jobs@fmb.ie or to our offices, details of which can be found on our contact page. […]
Revenue have today issued an eBrief that provides an update on the TWSS, It confirms that the qualifying criteria to avail of the scheme remains as significant negative impact for the three months to 30 June 2020 despite the scheme extending to 31 August 2020. It also confirms that if businesses joined the scheme and […]
Over the weekend Revenue changed the tax basis for all employees in receipt of TWSS (Wages Subsidy) or PUP Payment to a Week1/Month1 Basis. This will mean that no tax or USC refunds will be processed through the payroll going forward. Should an employee wish to return to a Cumulative Tax Basis they must contact […]
Today the Minister for Finance announced the extension of the Temporary Wage Subsidy Scheme (TWSS) until the end of August. We await clarification from Revenue that no other changes are being applied. The announcement is available at https://www.gov.ie/en/press-release/455ce-minister-donohoe-announces-extension-of-temporary-wage-subsidy-scheme-until-end-august/ […]
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