Covid-19 Support Updates

COVID Restrictions Support Scheme (CRSS)

The new COVID Restrictions Support Scheme (CRSS) has been set up to aid businesses impacted by Covid-19 restrictions.
Businesses that qualify for the scheme can apply to Revenue for a cash payment. The maximum weekly payment will be €5,000. The scheme is aimed at those in the accommodation, food and arts, recreation, and entertainment sectors. If the Government decides to move to a higher level of restrictions, then other sectors may qualify. The scheme will run from 13 October 2020 until 31 March 2021.
The following measures will apply:
• Payments will be made when Level 3 restrictions or higher are in place in line with the Plan for Living with COVID-19
• Businesses will qualify where government restrictions directly prohibit or restrict customer access to their premises
• Payments will be calculated based on 10% of the first €1 million in turnover and 5% thereafter, based on average VAT exclusive turnover for 2019
• A self- assessment of 80% disruption in turnover will be required

EWSS, TWSS and Grant Payments

The Employment Wage Subsidy Scheme will continue until 31st March 2021. Supports under a similar scheme are likely to continue to 1st April 2021. The Government has applied to the EU SURE fund (the European Instrument for Temporary Support to Mitigate Unemployment Risks) for additional funding. This fund is part of the European response to help protect jobs and workers affected by COVID-19.
Any employer who received excess amounts of the Temporary Wage Subsidy Scheme must refund the overpayment to Revenue. An employer may be unable to repay the overpayment immediately, due to the impact of Covid-19 on their business, and the existing tax debt warehousing scheme will be expanded to include these repayments.
The Covid Enterprise Support Grant payments have been extended until 31 March 2021. The grant is worth up to €1,000 and is aimed at sole traders who got the Government’s Restart Grant Plus. The waiving of commercial rates due to local authorities has been extended until the end of 2020 to support businesses impacted by COVID-19.

Other COVID-19 supports include:
• €39 million in continued access to low cost loans for business
• €30 million for applied research in the pharmaceutical and healthcare industry
• €10 million to help businesses move online with the Online Retail Scheme

Leave a Reply