Revenue sheriffs will seek to collect as much as €500 million in outstanding tax debt in Q1 of 2023 – just as firms struggle to cope with high fuel costs and the cost of living crisis

Corporate insolvency practitioners claim factors including rising energy costs, the loss of government pandemic supports and inflation will wipe out weaker companies

The businesses behind Dublin restaurants Rustic Stone and Brasserie Sixty6, co-owned by the well-known chef, will have their debts written down as part of the deal

The new Small Companies Administrative Rescue Process was set up in 2021 to help small companies that are viable but insolvent

It would be a shame if the Revenue Commissioners’ lack of support scuppered one of the government’s best measures to help small firms survive the ongoing turmoil

The Small Company Administrative Rescue Process allows firms to restructure their balance sheets in a quick and cost-efficient way