Recent Revenue guidance states that a director or employee who holds a material interest in a company cannot claim credit for taxes deducted from their employment with that company if the payroll taxes have been warehoused and not paid over to Revenue by the company. A director or employee is deemed to hold a material interest in a company where they directly or indirectly control more than 15% of the shareholding in the company. Such Directors/employees should check their current situations if their companies have availed of debt warehousing with Revenue, otherwise, they may become personally liable for the payment of their payroll taxes when they submit their annual Personal Income Tax Returns.