Business Resumption Support Scheme (BRSS)
This new scheme is being introduced in September 2021 and is intended to support businesses that were significantly impacted throughout the COVID-19 pandemic.
BRSS will be available to both affected self-employed individuals and companies who carry on a trade. It is also available to any trading activity carried on by charities and sporting bodies. It is not however available to professional type activities (similar to the CRSS).
To qualify under the scheme, the turnover of the business during the period from 1 September 2020 to 31 August 2021 must be no more than 25% of its turnover when compared to the reference period. For most businesses, the reference period will be 2019 but it will be a later period if the business was established on or after 26 December 2019.
Qualifying taxpayers can claim “an amount equal to three times the amount as derived by 10% of their average weekly turnover during the reference period” up to €20,000 and 5% thereafter, subject to a maximum payment of €15,000. Applications and payments made under the scheme will be similar to the CRSS.
To make a claim under the scheme, a number of other conditions must be satisfied including that the person:
- has an up-to-date tax clearance certificate;
- has complied with their VAT obligations;
- is not entitled to make a claim for the CRSS scheme in respect of any week that includes 1 September 2021;
- and that the business is actively carrying on its trade and has an intention to continue to do so.
Claims for the BRSS must be made through ROS and claimants are required to complete a declaration that they satisfy the conditions of the BRSS. Provision is made for the publication of the names of claimants of BRSS on Revenue’s website.
Full details will be circulated to PSC clients and contacts as they become available.