The CCAB-I recently wrote to Revenue setting out issues encountered by taxpayers as they try to settle their TWSS liabilities. The letter explains how taxpayers who are self-assessed or jointly assessed with a self-assessed taxpayer require the same terms to spread the payment of the TWSS tax liability over four years as non-self-assessed taxpayers. The letter also highlights that employers are actively exploring payment of their employees’ TWSS tax liabilities but currently cannot establish the tax derived from the TWSS. Due to cash flow constraints, many employers need until 2022 to pay their employees’ TWSS tax and the CCAB-I calls for the BIK concession to be extended beyond June 2021 accordingly.

The letter is based on the feedback provided by accountants in a recent survey conducted by the CCAB-I. You can read the letter in the Source Material section of this edition.