Good news for businesses in Ireland. The Minister for Finance, Michael McGrath TD, has announced significant updates to the Tax Debt Warehousing Scheme to provide further relief and flexibility for businesses navigating their financial recovery. Key changes include:
– The interest rate on warehoused debt has been reduced to 0%. Revenue will also issue refunds of any interest at 3% already paid by businesses on warehoused debt.
– A more flexible approach will now be taken regarding payment plans for warehoused debt.
For those who have taken advantage of this scheme, remember that you have until 1 May 2024 to settle the warehoused debt in full or establish a formal payment plan with Revenue. Need assistance in negotiating a payment plan with Revenue? Feel free to reach out for guidance.
For more details on the announcement, click here: https://lnkd.in/ewkeHskt.