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NEWS

COVID-19 Temporary Wage Subsidy Scheme’ – UPDATE

UPDATE 1 MAY 2020 – Revenue have now issued Version 9 of the FAQ on the guidance on the TWSS. Their recent update includes a useful Sample Subsidy Calculator which can be accessed at https://www.revenue.ie/en/news/articles/guidance-on-the-temporary-covid-19-wage-subsidy-scheme.aspx

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UPDATE 6 April 2020 – Revenue have now issued Version 5 of the FAQ’s on the operation of the COVID-19 Wage Subsidy Scheme. 

This does provide further clarity on ‘top-up’ payments.

You will get the full FAQ’s at https://www.revenue.ie/en/employing-people/documents/pmod-topics/guidance-on-operation-of-temporary-covid-wage-subsidy-scheme.pdf

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UPDATE 30 March 2020

Arising from the passing of the ‘Emergency Measures in the Public Interest (COVID 19) Bill 2020’ we are advising that where you are operating or planning on operating the ‘COVID-19 Temporary Wage Subsidy Scheme’ that you operate the following:-

–        Where the employees Average Net Weekly pay is less than €586 you include a subsidy of 70%

–        Where the employees Average Net Weekly pay is over €586 but below €960 you include a subsidy of €350 per week

–        Where the employees Average Net Weekly pay is in excess of €960 they have no subsidy

If you operate the transitional period of €410 maximum per employee without reference to their earnings, any overpayment will be required to be refunded to Revenue and may require a claw back from the employee.

Revenue have provided a very useful updated Guidance Document at https://www.revenue.ie/en/employing-people/documents/pmod-topics/guidance-on-operation-of-temporary-covid-wage-subsidy-scheme.pdf

We will endeavour to keep the News Section of our website updated with relevant developments.

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