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Debt Management Strategies – Covid 19

‘Warehousing’ of Covid-19 related Tax Debt

Overview

The warehousing of Covid-19 related Tax debt is designed to aid businesses severely impacted by Covid-19 to retain cash hence improve liquidity. It is understood arrangements will be put in place to allow certain tax debt that cannot be paid during the Covid-19 related period, to be warehoused interest free for a period of 12 months from recommencement of trading, during which time there will be no debt enforcement action taken by Revenue in respect of the debt. The scheme will apply to businesses in all sectors of the economy who have been negatively impacted by Covid-19.

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Your guide to the annual self-assessed tax return