The Operational Phase of the Temporary Wage Subsidy Scheme has now come into operation for all payroll submissions made under the Scheme on or after 4 May.
This also coincides with a number of updates and changes to the operation and calculation of the Wage Subsidy amount, the details of which were flagged as part of our previous publication, here.
The move to the Operational Phase also means that Revenue will now commence the process of reconciliation of subsidy amounts paid under the Transitional Phase of the Scheme, and employers should receive notification from Revenue with regard to same in due course.
The purpose of this article is to focus of the practical details of the changes under the Operational Phase of the Scheme, which will include an overview of some procedural changes which should assist employers in their administration of the Scheme.
Revenue’s formal guidance document on the Operational Phase of the Scheme can be viewed at the following link.