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/ […]
Our latest newsletter is available for download in newsletter section of our website HERE This quarters articles include – economic recession: short and surmountable – the temporary wage subsidy scheme – small enterprise fund – getting your business online plus all the usual tax and legal briefs. We would also encourage micro and small enterprises impacted […]
Revenue have issued an FAQ document aimed at employees whose employers have been affected by the Covid-19 Pandemic and who are availing of the Temporary Wage Subsidy Scheme. https://www.revenue.ie/en/corporate/communications/documents/twss-guidance-for-paye-employees.pdf […]
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