Temporary Wage Subsidy Scheme (TWSS) Reconciliation Phase
IMPORTANT - Action needed by all employers who availed of the TWSS subsidies scheme in 2020.
Revenue have now made available their reconciliation of the TWSS for most employers. The statements are available through ROS. Employers now have until the 30 June 2021 to either accept Revenue's calculation or correct the reporting of subsidies paid. If no action is taken Revenue will assume that the employer agrees the calculation and will demand any over-payment or refund any underpayment.
There will be differences and most employers will have to repay Revenue some of the TWSS. This arises as for the first 6 weeks of the scheme up to the 4 May 2020 Revenue paid employers €410 per week per employee regardless of their entitlement or the amount that the employer claimed.
It is essential that all employers review the reconciliation statements and their TWSS claims.
Please contact us with any queries arising.
The Revenue’s guide to the reconciliation process can be obtained here.