Applications have opened for a State scheme that provides a one-off payment of up to €15,000 to support the cost of reopening for the self employed and other qualifying businesses hit by Covid-19. Some charities and sports bodies will also qualify.
The Business Resumption Support Scheme (BRSS) was announced in June and is now open for applications via the Revenue Online System (ROS) through its e-registration facility. Registration is a necessary first step for businesses to access the scheme. Eligible businesses can then make a claim at any time up to November 30, 2021, through Revenue’s Online Service (ROS).
The scheme is available to businesses that were actively trading on September 1, 2021 and intend to remain open.
To qualify under the scheme, a business must be able to demonstrate that the turnover from its trade in the period from September 1, 2020 to August 31, 2021 is no more than 25pc of what’s described as a ‘reference turnover amount’, generally based on its 2019 numbers.
The BRSS single payment will be calculated on the basis of three weeks at 10pc of the first €1m in turnover per week and 5pc thereafter, based on average VAT exclusive turnover for 2019, and will be subject to a maximum payment of €15,000.
Where a qualifying person carries on more than one trade, a claim in respect of each trade can be made, subject to each one meeting the conditions of the scheme.
Eligibility criteria for the scheme include having tax clearance, and being able to provide or verify certain information in relation to the business trading activity and its turnover.