Revenue Commissioners Debt Warehousing Scheme

Deadline: Tax returns must be filed by 30th April

Anybody who has availed of the very helpful Revenue Debt Warehousing scheme, has until 30th April to ensure that they have ALL their tax returns filed. Below is some guidance to help you with the process:  They don’t necessarily have to be paid, but they must have been filed on ROS

The returns include all the usual such as

  • VAT
  • Payroll including all RPN’s and old P30’s and P35’s
  • Income Tax
  • Corporation Tax
  • VIES
  • RCT

The only returns this doesn’t include are RTD’s (summaries) and 46G’s (payments to contractors)

  • Agents are NOT being informed of outstanding returns due by their customers. There is no facility on ROS for Agents to find this out, without going into each and every client, and each tax head, individually.
  • The taxpayers have been notified directly by the Revenue over the past four to six weeks, usually twice, listing all their outstanding returns.
  • Taxpayers may have been warehoused without either themselves or their Agent’s knowledge, as where a return has been filed and not fully paid, the Revenue have warehoused it automatically.
  • By 30th April (an immovable barrier!) if you have even one return, dating back to 2015, listed as outstanding, then you will lose the warehousing facility in full. This would mean that from 1st May, the entire warehoused debt would become payable on demand. Also, instead of being able to avail of 0% and 3% interest rates for phased payments, the full debt is now due and payable, and at an annual interest rate of 9%