COVID-19 has confirmed that we are presently living in unprecedented times, businesses are having to adjust to a new way of working and many employers in Ireland have had to consider how to meet the difficulties of continuing to trade in ever changing circumstances.
Central to the government’s plan has been job retention and income protection for employees, and the Temporary Wage Subsidy Scheme (TWSS) and the Employment Wage Support Scheme (EWSS) have been instrumental in achieving these aims.
How can KPMG help?
Our People Services team are supporting employers with the challenges they are facing in administering the wage subsidy schemes. Given the level of government investment, Revenue scrutiny in this area is already apparent.
We have worked with a wide range of employers in order to assist them in determining their eligibility for the TWSS and EWSS schemes and also to satisfy Revenue where participation is under review. Given the nature of the eligibility requirements, it is important to ensure that employers satisfy the qualification criteria, and also be in a position to recognise when participation is no longer appropriate so that appropriate action is taken.
Our client payroll experts are also well placed to advise on payroll operation, both from a technical and practical standpoint. TWSS and EWSS have served to ensure that payroll obligations in 2020 will be unique, and there are many actions and considerations to ensure compliance has been achieved.
Our team can assist on all aspects relating to the TWSS and EWSS schemes. Specifically, we can
- Help determine employee eligibility
- Carry out compliance checks of TWSS and EWSS payroll calculations
- Respond to Revenue enquiries in relation to the administration of the schemes
- Provide advice on employee income tax liabilities arising under TWSS
- Ensure correct level of subsidies are claimed and reconcile appropriately with Revenue
- Assist with communications to employees regarding the schemes
To find out more about the work we do and how we can help you – get in touch today. We look forward to hearing from you.