The housing charity, Peter McVerry Trust, which is currently the subject of a statutory investigation into its finances and governance, has confirmed it owes €8.3m to Revenue.

The organisation said it used Revenue's scheme to warehouse PAYE tax debts during the Covid-19 crisis in 2020, 2021 and 2022.

"Peter McVerry Trust entered into a phased payment arrangement with Revenue commencing September 2022 and have met all payments as part of this arrangement to date," the charity said in a statement.

Earlier this week, the State’s regulator for housing bodies appointed inspectors to carry out a statutory investigation into the Peter McVerry Trust.

If follows the Approved Housing Bodies Regulatory Authority (AHBRA) being notified of financial and governance issues at the charity in July.

The inspectors have been asked to prepare and submit a report to the AHBRA.

But the AHBRA has also said the start of a statutory investigation is not in itself a finding of any wrongdoing.

Consultancy firm, PwC, is already conducting a separate probe for the Dublin Regional Homeless Executive into the Peter McVerry Trust.

It is understood that is being finalised and is expected to be completed in the coming days.

The developments follow the charity saying in August that it was facing serious cash flow pressures.

At that time the CEO of Peter McVerry Trust, Francis Doherty, said it was "experiencing cash flow pressures that are more acute than would traditionally be the case, even allowing for the summer period".