Revenue has contacted the Institute Of Chartered Accountants to tell them that from 20 June 2022 all employers who claimed EWSS will receive a self-review letter from Revenue requiring them to conduct a final review of their eligibility for all subsidies and PRSI credit received.
As the scheme is closed, Revenue advise you should now conduct a final self review to verify your eligibility for all subsidies and credit received.
Please pay particular attention to:
Any period where you did not complete an Eligibility Review Form;
The requirement for 30% decline in turnover in each eligibility period on a monthly basis;
The requirement to cease claiming subsidy immediately after de-registration.
If you are satisfied that all of your EWSS claims were valid and correct, you do not need to take any further action.
If, however, you identify any invalid claims, please correct your payroll record and repay any relevant subsidy and PRSI credit amounts not later than 30 September 2022.
If you are eligible to participate in Revenue’s Debt Warehousing facility, any EWSS or related PRSI liabilities that you declare not later than 30 September 2022 may be included in the Debt Warehouse. This means the liability can be “parked” interest free initially and subsequently repaid at a special low interest rate of 3%.
Revenue may undertake a review of your EWSS eligibility at a later date. If such a review identifies incorrectly claimed subsidies and/or PRSI credits, you may face interest and penalties in addition to repaying any overclaimed subsidies and/or PRSI credits.