Further update on the Debt Warehousing Scheme

As of 16.00 on Thursday 02 May, over 10,000 Phased Payment Arrangements (PPAs) have been set up on our system. We are actively progressing 1,500 PPA applications at present. In addition, in the last three days we have processed over €65m in payments for the debt warehouse debt.  We estimate that, when PPA applications on hand are finalised and incoming payments on the Revenue Online Service (ROS) are processed, 85% of the €1.65bn of debt that was warehoused at the start of April will either have been paid in full or secured under PPAs.

For those businesses who have not yet put arrangements in place to pay their warehoused debt, either in full or as part of a PPA, they now risk losing the 0% interest rate and flexible payment options available in respect of their warehoused debt, which will become subject to standard debt collection. To avoid this possibility, businesses are strongly encouraged to engage with us immediately to devise a payment plan covering their warehoused debt.

Taxpayers can engage with Revenue 24/7 via our digital channels (MyEnquiries or ROS). Alternatively, the Collector General’s phone lines will be open tomorrow until 16.30 (Ph: 01 738 3663) to assist in this process and finalise the payment arrangements submitted to us.

In summary, Revenue wishes to reiterate the crucial message that any business which has not yet engaged with us in respect of their warehoused debt should take action now to engage with us immediately to formulate a payment plan or else face standard debt collection procedures.

[ENDS 02/05/2024]