Revenue has brought forward the date of payment for Employment Wage Subsidy Scheme supports to eligible employers.
Over 37,900 employers are now registered with Revenue for EWSS and payments in respect of September payroll submissions, which were due to be made as soon as possible after October 14, will now be paid into designated bank accounts by Friday October 9.
Revenue also confirmed that all future monthly EWSS payments due to eligible employers will be made as soon as possible after the fifth day of the following month.
The accelerated payment date aligns with the availability of the monthly Employer PAYE Return Submission Statement, which is made available to employers in Revenue's Online Service, ROS, by the fifth of the following month.
Michael Scanlan, Technical Manager at TaxAssist Accountants has welcomed the move and said “The cash resources of most SMEs are under severe pressure and payment delays of even a couple of days can have serious consequences. Today’s announcement will be of some relief to these businesses.”
He added that “Given the acceleration of the payments to the fifth of the month going forward, it is vitally important that employers are filing their returns accurately and in a timely manner to ensure that they are receiving their subsidies on time and in full.”
You can find out more about the EWSS here
Last updated: 7th October 2020