RMcH states: updates on EWSS extension, warehousing of revenue debt & WFH
The following are the broad parameters of this extension:
The estimated cost of extending the EWSS from November 2021 to 30 April 2022 is in the region of €1.26 billion, which is funded by the Vote for the Department of Social Protection.
CPA Ireland have made extensive representations via CCAB-I and to Revenue at TALC on the interaction of the Debt Warehousing Scheme for PAYE (Employer) liabilities with Section 997A of the TCA 1997, as credit for PAYE deducted from remuneration paid to certain directors/employees is not permitted unless the PAYE has been remitted to the Collector-General.
The financial implications for affected taxpayers who do not qualify for income tax debt warehousing were represented.
The current tax arrangements for working from home will be enhanced and formalised so that an income tax deduction amounting to 30% of the cost of vouched expenses for heat, electricity and broadband in respect of those days spent working from home can be claimed by taxpayers.
So what are you waiting for? Call Today and talk to us about how we can make a real difference to your business. Arrange your Meeting using the form below or call us direct on +353 1 8827 600.