CCAB-I have tabled issues for discussion with Revenue at TALC this week regarding the taxation of TWSS.
The matters with Revenue for clarification include:
- Issues on who can opt to have TWSS tax collected via the PAYE system over four years from 2022 i.e., can a PAYE worker jointly assessed with a self-assessed spouse avail of this option.
- Issues with the TWSS and SCSB calculation for tax exempt termination payment.
- Issues on how to calculate the tax an employer can pay on behalf of an employee under the BIK concession.
- Issues with 53 weeks of tax credits on the 2020 Form 12.
- Issues with pre-population of TWSS payments on the Form 12.
We will keep members updated on these matters.