Overview
A Business Resumption Support Scheme (BRSS) was announced under the Government’s Economic Recovery Plan for Ireland as a support to businesses that were significantly impacted throughout the COVID-19 pandemic, even during periods when restrictions were eased.
Rates
You will be able to make claim to Revenue under the BRSS for a cash payment known as an Advance Credit for Trading Expenses (ACTE).
The payment will be calculated as three times the sum of:
- 10% of the average weekly turnover up to €20,000, and
- 5% of any excess of average weekly turnover above €20,000
BRSS is a single payment only and a subject to a maximum payment amount of €15,000.
Eligibility
The BRSS is available to eligible businesses carrying on a relevant business activity, which can include companies, sole-traders, self-employed individuals, partnerships, charities and approved supporting bodies.
To be eligible for the BRSS, you must:
- Have a valid tax clearance certificate
- Have met your VAT obligations
- Be actively trading
- Be ineligible to make a CRSS claim for any week that includes 1 September 2021
Qualifying criteria
To qualify for the BRSS, you must be able to demonstrate that the:
- turnover of your business, in the period 1 September 2020 to 31 August 2021, will be no more than 25% of the reference turnover amount
- reference turnover amount will be an extrapolation of the Average Weekly Turnover (AWT) of the business for a defined period of time (that is, AWT multiplied by 52).
The period of time used to establish the reference turnover amount will vary depending on when your business was established.
For the calculation of the AWT, the reference turnover amount period for businesses established:
- before 26 December 2019 is from 1 January (or when the business commenced) to 31 December 2019
- between 26 December 2019 and 9 March 2020, is from 26 December 2019 (or when the business commenced) to 15 March 2020
- between 10 March 2020 and 26 August 2020, is from 10 March 2020 (or when the business commenced) to 31 August 2020.
If you operate more than one business, you can make a claim in respect of each business, once the eligibility criteria are met. If you operate one business from multiple premises, you only qualify for a single BRSS payment.
Should you require any further information, or have any queries, please contact us for assistance.
