Tax debt warehousing for 2019 income tax

Tax Debt Warehousing for 2019 Income tax bills

Under the recent budget, the tax debt warehousing scheme will be extended to include TWSS repayments owed by employers. The tax debt warehousing scheme will also be extended to include the balance of tax due for 2019 and preliminary tax due for 2020 for self-employed individuals in financial difficulty.

The inclusion of these income tax liabilities in the debt warehousing scheme will allow self-employed individuals in financial difficulty defer payment for a year with no interest applying. Interest will apply thereafter at a rate of three percent and no surcharge will apply.

More details on this budget announcement will be made available by Revenue in the near future.

Any queries on the above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie