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TWSS question

  • 15-09-2021 5:26pm
    #1
    thingfish
    Registered Users, Registered Users 2 Posts: 2 ✭


    My accountant is just finishing off accounts for 2020. I have a farm in addition to my salaried job. My accountant has noted an underpayment of Paye/USC in the year 31/12/20 in respect of Temporary Wage Subsidy Scheme (twss) in 2020. TBH I wasn't even aware this scheme had been availed of. There was no material change to my work, though it was from then until now, conducted from home. As I didn't see any of this money, presumably my employer is liable for the payment of tax?



Comments

  • #2
    Deeec
    Registered Users, Registered Users 2 Posts: 5,504 ✭✭✭Deeec


    https://www.boards.ie/discussion/2058208991/twss-question

    TWSS was a payment given to your employer during covid so they could continue to pay your wage. To qualify they would have had to prove that they had a drop in turnover due to covid. When this scheme started the revenue introduced this an emergency scheme to help employers keep their employees paid. It was originally paid without consideration for tax consequences which some employees are finding out now. It should have been noted on your payslips. You are liable for the tax - have a chat with your employer and accountant they should be able to explain.



  • #3
    thingfish
    Registered Users, Registered Users 2 Posts: 2 ✭thingfish


    https://www.boards.ie/discussion/comment/117896101#Comment_117896101

    Thanks! Yeah I'll have a chat with her. As I said, I wasn't even aware it being claimed (I was as busy in 2020 as 2019). Only finding out about it now. TBH I could do without this an additional tax bill for something I didn't materially benefit from.



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