Debt warehousing

Warehouse periods

The debt warehouse term is made up of three distinct periods.

Period 1

This is the period during which returns entered the warehouse.

This period was determined having regard to the restriction levels introduced by the Government in response to the COVID-19 pandemic. All debt declared on returns for qualifying taxes for period 1 were entered into the warehouse.

Period 1 start date

The period began when the business first experienced cashflow trading difficulties due to COVID-19. This was:

Period 1 end date

Period 1 ended on 31 December 2021 for most businesses. However, it was extended to 30 April 2022 for certain qualifying businesses in December 2021.

Period 2

Period 2 was a one year period from 1 January 2022 to 31 December 2022 (or to 30 April 2023 for those in the extended scheme). During this period, the debt arising in Period 1 could be parked at 0% interest.

Period 3

Period 3 commenced when period 2 ends, which was 1 January 2023 (or 1 May 2023 for those in the extended scheme). During this period an interest rate of 3% applied on your warehoused debt until it was paid in full.

On 5 February 2024, the 3% interest rate applicable from the start of period 3 was reduced to 0%. For further details on the interest rate reduction, please see 'Amendments to the Debt Warehousing Scheme 5 February 2024'.

Next: Qualifying terms and conditions