Debt warehousing

Disclosure of additional Period 1 liabilities

If you have any previously undeclared liabilities for Period 1 you can now declare these to Revenue. Any additional liabilities for Period 1, declared by 31 January 2023, can be included in the debt warehouse. These liabilities will benefit from the reduced interest rates available under the scheme. 

Period 1 ran from January 2020 to December 2021 or to 30 April 2022 if the warehouse extension applied.

If you are eligible you will be notified by a Level 1 compliance intervention notification during September 2022. A copy of this notice is available in Appendix 1 of the Level 1 Compliance Programme – Debt Warehousing Scheme.


If you are satisfied that all your returns for Period 1 are correct no further action is required.

Benefits of making a disclosure

The benefits of making a disclosure of additional Period 1 liabilities are:  

  • Zero interest is applied to the additional declared liability up until 31 December 2022 or 30 April 2023, where the extension applied. Thereafter, a reduced rate of 3% applies.
  • You can enter into a Phased Payment Arrangement (PPA) for the additional declared liability or add it to your existing PPA
  • and
  • You have the assurance that, by making a Qualifying Disclosure, you are fully tax compliant. This means that you will not risk having any of your debt warehousing arrangements revoked.

Making an Unprompted Qualifying Disclosure

A qualifying disclosure is a disclosure of complete information that is:

  • made in writing
  • is signed by or on behalf of the taxpayer
  • and
  • must be accompanied by a declaration, to the best of your knowledge, information and belief that all matters contained in the disclosure are correct and complete.

You can submit a scanned copy of the signed disclosure through MyEnquiries in Revenue Online Service (ROS) or myAccount. If you submit the disclosure through ROS you should select ‘DWS Disclosure’ from the dropdown menu. If you submit the disclosure through myAccount you should refer to the term 'DWS disclosure' in your message.

You can also submit the disclosure to Revenue by post to the address shown on the Level 1 notification.

All disclosures must be received by Revenue on or before 31 January 2023.

Each disclosure will be checked and verified by Revenue. You will then be contacted by Revenue and requested to amend the relevant returns. 

In certain cases, Revenue may need to bring the liability to account by the raising of an assessment. Once the liability has been brought to account, you will be required to:

  • pay the additional liability in full
  • or
  • agree that the additional liability will be paid by a PPA.

Once the payment terms are agreed, you will be notified in writing that your disclosure has been accepted by Revenue as qualifying.