Revenue reminds businesses and self-assessed taxpayers of the availability of debt warehousing


Revenue has this week written to over 100,000 taxpayers confirming that their tax debts totaling €2.2 billion are eligible for Debt Warehousing.

The Debt Warehousing Scheme allows VAT and PAYE (Employer) debts incurred by businesses during the period of restricted trading caused by Covid-19 to be ‘parked’ on an interest free basis for 12 months following the resumption of trading. At the end of the 12-month interest free period, the warehoused debt may be paid in full without incurring an interest charge or paid through a phased payment arrangement at a significantly reduced interest rate of 3% per annum. This compares to the standard rate of 10% per annum that would otherwise apply to such debts.

See here for more information.

Now is the time to enter your business in the Louth Business Awards 2022. There are 23 categories of awards this year, giving you a fantastic selection to choose from.