How To Quickly and Easily Claim TBESS
The uptake of Temporary Business Energy Support Scheme (TBESS) has been lower than expected, with some businesses saying the paperwork is too onerous and it’s not clear if they will get anything back from it. We asked Aideen Scannell, accountant, what businesses need to know about eligibility and who has seen the best results from their applications.
Who can benefit from TBESS?
Anyone who has a trade or profession with significant energy bills should take the time to check if the scheme benefits them, says Aideen.
“Some clients believed that because they had one electricity bill for both their domestic use and business use that they would not be eligible. But when completing registration you can state the percentage of electricity used for domestic purposes.” This means you can claim for electricity used wholly & exclusively for the purposes of the trade or profession, and remain eligible for the scheme.
Qualifying for TBESS and calculating costs
Tax clearance is essential, Aideen stresses, and businesses must demonstrate that their average monthly unit price for either electricity or gas has increased by at least 50% since the same month last year.
Qualifying businesses will receive aid in the form of direct grants. They can get up to 40% of the additional costs they are facing, up to a maximum of €10,000 per month. You can offset TBESS payment against outstanding liabilities.
Some businesses are unsure if their energy costs meet the criteria. To calculate the unit price, says Aideen, use the total bill charges, exclusive of vat, divided by the number of units of electricity or gas consumed during the billing period. The total bill charges is the net total of the bill and includes standing charges.
Don’t leave it too late – TBESS time limits
Smaller businesses, who may put off by the difficulty of applying or unsure if it’s worth it for them, could be leaving serious money on the table by putting off their application.
There is a strict time limit on claims. “September claims need to be made by 31st January 2023 and October claims need to be made before 28th February 2023.” A number of clients in the restaurant industry, for example, have already had significant claims which have helped cashflow after the Christmas period.
8,800 businesses have already registered, with almost 3,000 claims worth €6.6 million fully processed to date, so make sure your business is getting the support it is eligible for.
For more information, get in touch with our team today.
We can talk you through whether applying for TBESS is worthwhile for your business and help you with your application if it is.