Temporary Wage Subsidy Scheme Reconciliation

The TWSS (Temporary Wage Subsidy Scheme) ran for the period 26th of March 2020 to 3rd of May 2020 (Transitional Phase) and from the 4th of May 2020 to the 31st of August 2020 (Operational Phase).

For any organisation that took advantage of the TWSS the process to reconcile the payment commenced on the 22nd of March 2021. The deadline for completion of the reconciliation is the 30th of June 2021.

The reconciliation is necessary because of the manner in which the Transitional Phase was operated. The main reason for the reconciliation is that the subsidy paid in the transitional period was an estimated amount and the Revenue paid the maximum benefit. The reconciliation will determine if there is an amount due back to the Revenue and calculate same.

For detailed information the Revenue have produced an employer guidance which can be access here.

The reconciliation does not relate to the subsequent EWSS (Employment Wage Subsidy Scheme) which commenced on the 1st of September 2020 and is still running. It is unlikely that there will be a requirement for a reconciliation in relation to this second scheme as it operates in a different fashion.

This website uses cookies and thereby collects information about your visit to help improve the website, show you relevant social media content and/or show you relevant advertisements. Please see the policy page for further details and fine-tuning of cookies settings or agree to ALL cookies now by clicking the 'Accept' button. You can of course revoke your consent at any time in the future via the same policy page.

Cookie settings

Below you can choose which kind of cookies you allow on this website. Click on the "Save cookie settings" button to apply your choice.

FunctionalThis website uses functional cookies. These cookies are necessary to let our website work and cannot be disabled.

AnalyticalThis website may use analytical cookies to make it possible to inspect visitor traffic and optimise usability based on this data.

Social MediaThis website may places social media cookies to show you 3rd party content like YouTube and FaceBook. These cookies may track your personal data.

AdvertisingThis website may place advertising cookies to show you 3rd party advertisements based on your interests. These cookies may also track your personal data.

OtherThis website may place 3rd party cookies from other 3rd party services which aren't necessarily for Analytical, Social Media or Advertising purposes.