Revenue is once again asking employers who have claimed wage subsidy to review their records and identify and repay any invalid transfers or PRSI credits they have received.
AX officials are sending out “self-review letters” next week to businesses that used the Employment Wage Subsidy Scheme (EWSS), which closed last month, to verify their eligibility for all payments they received.
Firms that discover overpayments or invalid claims must correct their payroll records and make repayment arrangements by September 30, the letter said.
Companies making necessary deposits on time can take advantage of tax debt warehousing, but companies that owe money and fail to reconcile revenues will face penalty and penal interest.
Employers who are satisfied that all their payments are valid and correct shall not take any further action.
The exercise is the last in a series of eligibility review and reconciliation processes for employers who used EWSS and the Temporary Wage Subsidy Scheme (TWSS) during the two years of the COVID-19 pandemic.
Revenue is asking firms to pay special attention to periods where they did not complete monthly eligibility review forms and to check that they meet the requirement for a 30 percent drop in turnover in each eligibility period.
Officials are also looking into companies that may have claimed subsidy by mistake in the payment period immediately after leaving the scheme.
Under the earlier eligibility and compliance reviews, revenue has withdrawn approximately €350m in overpayments and incorrectly claimed subsidies.
