Business Resumption Support Scheme (BRSS)
We refer to our circular dated 29th June 2021, which advised of this new Covid support. Revenue guidelines have now been issued.
Many of the conditions relating to the Covid Restrictions Support Scheme (CRSS) are also relevant to the BRSS. In particular:
- The registration and claims processes are very similar.
- The applicant is required to have an up-to-date tax clearance certificate and to submit all tax returns as required.
- The calculation is quite similar to the CRSS (see below).
- The conditions are the same for the following: multiple trades/premises, recognition of turnover, seasonal businesses, business amalgamations and reconstructions, family transfers of business and tax clearance.
BRSS is available for businesses carrying on a trade whose turnover:
- for the period 1 September 2020 – 31 August 2021
- has reduced by at least 75%
- based on the “reference turnover amount”.
For businesses established before 26 December 2019, the reference turnover amount is the period from 1 January – 31 December 2019.
Different reference turnover amounts apply where businesses were established after 26 December 2019. Please refer to Revenue’s guidance notes (see link below).
The business should be “actively trading and intends to continue to do so”.
BRSS is not available to a business which is eligible to claim the CRSS for “any week that includes 1 September 2021”. There is however nothing to stop a business that had previously claimed CRSS (and has ceased claiming CRSS) from now claiming BRSS.
How is the BRSS Calculated
Effectively, BRSS is calculated at three times the amount of the “standard” CRSS payment.
It is a single payment only.
The Revenue guidance notes state that BRSS is 3 times the sum of:
- 10% of average weekly turnover up to €20,000 (€1m approx. p/a), and
- 5% of any excess of average weekly turnover over €20,000.
BRSS is subject to a maximum payment amount of €15,000.
What Else Do I Need to Know?
Applications must be made between 1 September 2021 – 30 November 2021.
Interestingly, some businesses which previously would not have been eligible for CRSS may qualify for BRSS. In particular, there was a requirement under CRSS that access to the business premises must have been “significantly restricted”. There is no such condition with the BRSS.
A link to the Revenue guidance notes on BRSS is here
Should you require any further information, or have any queries, please call your usual PSC contact.