Revenue brings forward EWSS payment date
Today (06/10/2020), Revenue announced that it has brought forward the date of payment for Employment Wage Subsidy Scheme (EWSS) supports to eligible employers. EWSS payments in respect of September payroll submissions, which were due to be made as soon as possible after 14 October, will now be paid into the designated bank accounts of eligible employers by this Friday morning (9 October).
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.
Commenting on the accelerated monthly payment date for EWSS supports, Ms Orla Fitzpatrick, head of Revenue’s Medium Enterprises Division and responsible for implementing the EWSS said:
“Revenue recognises that this is an extremely challenging time for businesses and employers. Bringing forward the EWSS payment date continues Revenue’s supportive approach to businesses during the current crisis. EWSS payments due in respect of September payroll submissions are currently being processed and we provisionally expect that payments of just under €250 million will be paid to 31,700 employers in respect of 335,000 employees. I expect these payments to be in the designated bank accounts of most eligible employers by this Friday morning, 9th October. Additionally, we will credit monthly employer PRSI liabilities by approximately €60 million to account for the reduced rate of PRSI that applies to wages that are eligible for the EWSS.
“Today’s announcement also outlined that subsequent monthly EWSS payments will be processed as soon as possible after the fifth of the following month. With this in mind it is really important that employers make timely and correct payroll submissions as they will now only have the opportunity to make any necessary corrections before the subsidy is paid instead of up until the payroll return filing date of the 14th of the month.”
Over 37,900 employers are now registered with Revenue for EWSS. Employers who meet the qualifying criteria can register for the scheme at any stage via ROS. As applications for EWSS cannot be backdated, it is essential that employers register for the scheme prior to the first pay date in respect of which the subsidy is being claimed.