Updated / Wednesday, 13 Jan 2021 11:51 The Debt Warehousing Scheme allows businesses to "park" PAYE and VAT tax debts arising from the Covid-19 crisis Revenue is reminding businesses that the Debt Warehousing Scheme remains available to support companies facing tax payment difficulties as a result of the current Covid-19 Level 5 public health restrictions. The Debt Warehousing Scheme allows businesses to "park" PAYE and VAT tax debts arising from the Covid-19 crisis, as well as self-assessed income tax amounts and Temporary Wage Subsidy Scheme overpayments. These debts can be parked on an interest free basis for 12 months after resumption of trading. At the end of the 12-month interest free period, the warehoused debt may be paid in full without incurring an interest charge or paid through a phased payment arrangement at a significantly reduced interest rate of 3% a year.