Revenue eBrief No. 170/22
09 September 2022
Procedures for Small Companies Administrative Rescue Process (SCARP)
This is a new Tax and Duty Manual. Procedures for Small Companies Administrative Rescue Process was introduced by the Companies Act 2021 to help certain companies who are viable, yet insolvent.
The scheme applies to small and micro companies and:
- allows companies to restructure their debts;
- helps companies avoid liquidation;
- ensures creditors get a better outcome than they would under a liquidation.