Unexpected payback time: Revenue’s clawback of the TWSS
Some struggling firms who availed of the temporary wage subsidy scheme (TWSS) are being told that in fact they did not qualify and must return the money to Revenue
Kevin, who owns a small business in the west of Ireland, faced an unpleasant call from his bookkeeper recently. Revenue had been in touch, and they were demanding a five-figure sum.
Earlier this year, Kevin’s company, which he asked not to be named, availed of the temporary wage subsidy scheme (TWSS). As part of the scheme, businesses that expected a 25 per cent hit to turnover could receive state support in the form of a ...