Revenues ongoing negotiations earlier this year with companies who availed of a pandemic-era warehoused tax debt scheme has been cited as a key reason for a decline in the number of small company restructurings in the first half of 2024, a new survey has found.

According to research from Azets Ireland, 13 Scarp restructuring procedures started in the first half of 2024 a decrease of 28 per cent on the same period in 2023. In total, 68 small businesses started restructuring processes since the Scarp scheme was created as an option for small businesses in December 2021, some 33 of those processes or nearly half of them starting in 2023 alone.