Revenue released the below e-brief today as the operational phase of the TWSS begins. Please get up to date on this new phase be reading this post as well as the documentation available at the links below.
Jefferson is working closely with Revenue to make the payroll processing during this scheme as easy as possible for all its clients. Stay safe !
Temporary Wage Subsidy Scheme (TWSS) – Operational Phase
The Temporary Wage Subsidy Scheme (TWSS) moved into the ‘Operational Phase’ from yesterday, Monday 4 May 2020. This means the TWSS now operates on the basis of an eligible employee’s Average Revenue Net Weekly Pay (ARNWP) for January and February 2020, and the gross pay as reported by their employer in the payroll submission, subject to the maximum weekly tax-free amounts.
Additionally, the subsidy amount is improved for those employees whose ARNWP for January and February 2020 is less than €500 and those whose ARNWP is in excess of €960.
On 4 May 2020 Revenue informed all eligible employers of the maximum personal subsidy amount in respect of each individual employee on its payroll based on the employee’s ARNWP. All eligible employers were also notified of the maximum weekly additional gross payment the employer can make to receive the full subsidy. This data transfer was made through a CSV (Comma Separated Values) file which can be downloaded through ROS.
Details of the revised rates which will apply from 4 May can be found on the TWSS information page on the Revenue website under the heading “Rates of subsidy from 4 May 2020”.
Further information is available on the Revenue website:
- Revised guidance material for this operational phase
- Further guidance on the CSV file details
- Further information on the Subsidy Scheme
The Team at Jefferson