Revenue Commissioners say terms of debt warehouse scheme, including the 0% interest, will be extended to businesses that submit a formal payment proposal before May 15th
More than 11,700 businesses have warehoused debt repayments outstanding, amounting to €130 million in total owed, according to the Revenue Commissioners.
Over 60 per cent of those businesses have outstanding liabilities of less than €5,000 while a further 30 per cent have outstanding liabilities between €5,000 and €50,000. The remaining 10 per cent of businesses have warehoused debt over €50,000.Closure orders: Rodent droppings and grime found in kitchens at Fitzpatrick’s Castle Hotel, Killiney
“The final demand notice will provide a seven-day notice before Revenue takes the appropriate enforcement action,” it said. The tax authority said a number of businesses have contacted Revenue in the last month but did not ultimately submit a formal phased payment proposal. It acknowledged a “high level of engagement” from businesses and their agents throughout the duration of the Debt Warehouse Scheme and, in particular, in the lead-up to the original May deadline.
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