Wage Subsidy Scheme: Update 15 April 2020
A further revision to the Wage Subsidy Scheme was announced on 15th April 2020 and I have attached the guidance note issued by Revenue for your perusal.
guidance-on-operation-of-temporary-covid-wage-subsidy-scheme-3
In summary the following are the changes announced:
- From 16 April 2020, the wage subsidy is available to support employees where their pre-Covid salary was greater than €76,000, and their post-Covid salary has fallen below €76,000, subject to the tiered arrangements and tapering to ensure that the net pay does not exceed €960 per week.
- Enter a non-taxable amount equal to 70% of the employee’s Average Revenue Net Weekly Pay up to:
- a maximum of €410 per week where the Average Revenue Net Weekly Pay is less than or equal to €586, or
- a maximum of €350 per week where the Average Revenue Net Weekly Pay is greater than €586 and lesst han or equal to €960, or
- From 16 April 2020, the wage subsidy is available to support employees whose ARNWP was greater than€960, and their current gross pay is below €960 per week, subject to the tiered arrangements and tapering.
Where the current gross pay, as reported in the payroll submission, represents a reduction from the ARNWP by:
- less than 20%, no subsidy is payable
- between 20% and 39%, a subsidy of up to €205 is payable
- 40% or more, a subsidy of up to €350 is payable.
The maximum additional payment an employer can make, to receive the full subsidy, is the difference between the employees Average Revenue Net Weekly Pay and their maximum weekly wage subsidy.
Phase 2 of the scheme which was due to commence on 20th April is now rescheduled to 4th May.
I hope that this guidance can keep you up to date on developments. As always we are at your disposal should you have any questions or queries or need any assistance with this or any other issue you may be facing.
I hope you are all keeping safe. Sending you, your family and friends our best wishes.
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