Ireland’s Revenue Commissioner is giving businesses a two-week grace period to confirm their eligibility for the Employment Wage Subsidy Scheme.
In what is the second extension for employers since the Employment Wage Subsidy Scheme (EWSS) was approved to continue in June, Revenue is giving firms a chance to get their paperwork in after last Sunday’s deadline passed.
Employers that fail to get their paperwork in order by the end of August will lose access to the wage subsidy payments.
“Close to 45,000 employers across Ireland are currently registered for the EWSS while 10,000 have exited the scheme”
According to the Irish Independent, as of Wednesday (18 August) 60pc of companies that had registered for EWSS had completed their eligibility review form (ERF) for June’s payments while just 37pc were up to date for July.
The scheme subsidises payroll costs for businesses whose revenue was impacted by the pandemic.
An end is in sight
It is understood that close to 45,000 employers across Ireland are currently registered for the EWSS while 10,000 have exited the scheme.
In July €450m was paid out to 31,400 companies to support 341,500 jobs.
Along with their ERF, employers will need to submit the following:
- Actual monthly Value Added Tax (VAT) exclusive turnover or customer order values for 2019;
- Actual monthly VAT exclusive turnover or customer order values for the first six months of 2021; and,
- Monthly projections for the remainder of 2021, July to December.
In related news, the Irish Government revealed that just over 153,000 received €45.4m in Pandemic Unemployment Payment (PUP) payments this week and that the number of recipients has fallen 70pc since February.
It urged that as restrictions are eased, people returning to work should close their claim on their first day back at work
In line with the Government’s National Economic Recovery Plan, the PUP will be gradually reduced on a tapered basis over a six-month period until February 2022 to align it with the standard jobseekers payments. This transition commences in September 2021.