Reminder to report TWSS reconciliation data to Revenue

Dec 07, 2020

Revenue is in the process of running its reconciliation calculations on the Temporary Wage Subsidy Scheme (TWSS) data reported by employers which fell due on 31 October.  Revenue note that some employers have not yet returned their subsidy paid data and would appreciate it if all outstanding subsidy paid data is submitted as soon as possible.  Revenue will then issue details to each employer at both summary and detail level which will allow them to review their position and reconciliation down to a payslip level, if necessary.  All employers will have until the end of March 2021 to review their details before accepting the reconciliation.  TWSS refunds due to Revenue may qualify for the Tax Debt Warehousing Scheme

As set out on Revenue’s website, employers are required to report the actual subsidy as part of a reconciliation process.  Subsidy paid information was due to be returned to Revenue before 31 October 2020.

Meanwhile Revenue’s work on the TWSS Compliance Check project is reaching a conclusion with approximately 82 percent of eligibility checks completed.  Approximately 5 percent of employers have yet to respond to the compliance check inquiries. There are 780 cases which have been escalated to Aspect Query and Revenue are engaging with those employers.