Taxes Consolidation Act 1997 section 991B

Covid-19: special warehousing and interest provisions

Section 991B provides for the warehousing (deferral of payment) of employer PAYE, USC and local property tax liabilities arising during the period in which an employer's business was adversely affected by Covid-19.

• Employer PAYE, USC and local property tax liabilities arising during the Covid-19 restricted trading period (Period 1) may be warehoused, provided the employer has filed all required returns and is unable to pay owing to the effects of Covid-19
• Where the employer engages with the Collector-General before 1 May 2024 to agree a payment arrangement and enters into such an arrangement, no interest applies to the warehoused liabilities during Periods 1, 2 or 3
• If the employer fails to comply with tax obligations or fails to engage with Revenue to agree a payment arrangement, interest at a daily rate of 0.0274 per cent (approximately 10 per cent per annum) applies to the outstanding liabilities
• Warehousing does not prevent an employer from obtaining tax clearance, and Revenue will not issue collection demands, provided the employer continues to file the required employer returns