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Businesses can claim Covid restrictions support cash payments from today

Eligible businesses can claim cash payments under the Government’s Covid Restrictions Support Scheme from today.

The scheme is designed to assist firms which have had to close or
have seen trading greatly reduced due to the introduction of Level 3 or
higher Government restrictions to counteract the spread of Covid-19.

So far around 9,500 businesses have registered to take part in the
CRSS, which will see them receive payments of up to €5,000 a week to
assist with cashflow and help them to survive.

In order to qualify, participating firms will have to have either
closed completely or restricted customers from their premises due to
Government imposed Covid measures.

They must also have a turnover of no more than 25% of their average weekly turnover last year.

If the business began trading after 26 December last year, then the measure will be its average weekly turnover this year.

They must also have tax clearance and be intending to reopen following the lifting of Government restrictions.

In order to make a weekly claim, businesses must first register
through the e-Registration system in the Revenue Online System (ROS).

Claims must then be made through the eRepayments portal on ROS, which will go live today.

Qualifying firms will receive a payment based on 10% of their average
weekly turnover last year up to a maximum of €20,000 and 5% of average
weekly turnover above the €20,000 level, capped at €5,000 a week.

The current period of national restrictions is considered by Revenue
to have begun on 13 October when the scheme was announced in Budget
2020, and runs until 1 December.

Once approved, the payment for the whole period being claimed for will be paid within three days.

However, Revenue says that in the event of any future periods of
restrictions, each business will have to reassess eligibility for the
scheme.

If a business is found to be eligible in subsequent applications, payment will be made in blocks of up to three weeks.

Article Source: Businesses can claim Covid restrictions support cash payments from today – RTE – Will Goodbody

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