Announcements have recently been made for new Covid initiatives, which are designed to support businesses in varying sectors, and which are outlined below. Further announcements are pending with a number of sectors being examined at present. In addition, some broader supports for towns/regions and business...
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On Monday, Fáilte Ireland announced details of a new €55 million Tourism Business Continuity Scheme, which is intended to support those tourism businesses that were not eligible for Covid Restrictions Support Scheme (CRSS) payments or previous Fáilte Ireland continuity grant schemes. Phase 1 of the scheme...
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As previously advised, Revenue have begun issuing preliminary end of year statements (PEOYS) for employees in receipt of TWSS. We have noticed that some employees are not yet able to access their PEOYS. In this regard, Revenue have commented recently that: “As regards proprietary directors, Revenue has...
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The Finance Act 2020, as passed by the Dáil in late December 2020, contains a late amendment to the turnover test for the Employment Wage Subsidy Scheme (EWSS). The Bill amends Covid legislation to provide that from 1 January 2021, an employer must demonstrate that their business...
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Revenue have issued a number of updates to their guidance notes on CRSS, with their most recent update being on 31 December 2020. The more important points are summarised below. 1. Time limit to claim A taxpayer has a time limit of 8 weeks only to claim...
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It is now possible to make a claim under the CRSS. Updated Revenue guidance notes are here These guidelines include a summary of businesses that will be regarded as subject to Covid restrictions, under each of the Roadmap Levels 1-5 (paragraphs 12.4 and 12.5) The guidelines also...
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Before the Budget day announcement, only certain VAT and PAYE liabilities could be warehoused. Finance Bill 2020 now provides for certain qualifying income tax and preliminary tax liabilities to be warehoused (together with repayments of TWSS subsidies). The following tax liabilities can now potentially be warehoused: ...
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What is the Covid Restrictions Support Scheme (CRSS) The Covid Restrictions Support Scheme (CRSS) announced on Budget day provides targeted support to businesses that are forced to close temporarily or operate at a significantly reduced level because of COVID-19 restrictions that either prohibit, or significantly restrict,...
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July 2020 Jobs Stimulus Plan The government, in response to COVID-19, recently announced the July Jobs Stimulus Plan which provides for several measures to boost the economy and get people back to work. This document contains a brief overview of the measures announced as we await further...
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