Small Companies Administrative Rescue Process (SCARP)
Companies should be aware of the following when entering the SCARP scheme:
- any Revenue debt within SCARP will be removed from the Debt Warehouse
- the company must file and pay all taxes when they are due
- debt reduction under SCARP may result in additional tax liabilities which will need to be considered in the rescue plan
- if a company fails to comply with the terms of the SCARP agreement, Revenue may apply to the Court to:
- challenge the continuation of the process
- place the company into liquidation or receivership.