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Redundancy rebates and tax payment difficulties

October 29, 2009 By Declan Long

When a business is awaiting a statutory redundancy rebate and is experiencing difficulty in meeting its tax obligations because of a delay in receiving the repayment, then Revenue will defer collection of the tax for a reasonable period. The business should provide authorisation for payment of the rebate directly to Revenue using the form agreed between Revenue and the department of Enterprise, Trade and Employment, which is available on the Revenue website www.revenue.ie at Business & Self Assessment>Running a Business>Tax Payment Difficulties.

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Filed Under: General, Recession, Taxation

About Declan Long

Declan Long qualified as a chartered accountant with Deloitte and later set up a practice in Newbridge, Co Kildare in 1983. A member of the Institute of Taxation in Ireland, Declan principally specialises in taxation, though as Principal of Long & Company, he also maintains expertise in the other areas of practice, such as audit, accountancy, computer software, financial advice and company law.

Email declan@longaccounts.ie or phone 045-433633 to speak to Declan directly.