This is very good news this evening from the Revenue Commissioners as they have announced a 12 month extension to the Debt Warehousing Scheme to support businesses due to what it called the current challenging economic situation for companies.
Under the scheme, businesses with warehoused debt were due to enter into an arrangement with Revenue to deal with that debt by the end of the year – or by May 1, 2023 for those subject to an extended deadline.
But given the current economic uncertainty, Revenue said it was now extending that timeline to May 1, 2024.
Revenue said this means that businesses will not be faced with the challenge of either clearing the debt in the warehouse or entering into a phased payment arrangement to clear the debt until May 1, 2024.
