The deadline for employers to review and accept their Temporary Wage Subsidy Scheme (TWSS) reconciliation balance was last Wednesday 30 June. Over 12,000 employers had yet to complete the reconciliation process on Monday, 28 June. Revenue updated the Employer Guidance for the TWSS reconciliation on what happens after the deadline, and we remind employers of the importance of saving reconciliation information.
Revenue confirmed that as of Monday, 28 June approximately 83 percent (55,550) employers had either accepted their reconciliation balance or had a reconciliation balance of less than €500. The remaining 12,000 employers were encouraged to urgently review their reconciliation balance in ROS and complete the reconciliation process.
While Revenue considered those who have a reconciliation balance of less than €500 as having completed the reconciliation process without the acceptance of their reconciliation balance, the importance for every employer to check their data, even at a high level was raised with us. An important action that all employers and agents should take if possible is to download a final copy of the Employer Reconciliation detail CSV file for their records.
Revenue has confirmed that it expects that from mid-July the below access in ROS will cease.
- Access to upload a TWSS subsidy paid file; and
- Access to the reconciliation information.
After 30 June 2021, even where an employer has not accepted their reconciliation results, Revenue will issue a Statement of Account to the employer and their agent, showing the TWSS balance due or refundable. From mid-July, employers with an outstanding TWSS balance due will be issued with a Notice of Assessment, which will allow the TWSS debt to be collected or warehoused.
Revenue confirmed that subsequent TWSS corrections will not result in an update to the Employer’s TWSS Statement of Account or TWSS Notice of Assessment.
Revenue published an update to the Employer Guidance for the TWSS reconciliation on Monday 28 June, which includes specific detail on what happens after the reconciliation deadline, and how TWSS debt warehousing will operate.
After 30 June, employers will be able to use direct reporting through their payroll package or direct entry on ROS to report any subsidy paid to employees. These values will be applied to the employee’s tax record but will not give rise to an update to the employer’s TWSS Statement of Account.
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