The BRSS is a targeted support for businesses significantly impacted by restrictions introduced by the Government to combat the effects of the COVID-19 pandemic and, in particular, those businesses that continue to be significantly impacted even after an easing of public health restrictions.
Guidelines on the operation of the scheme, including the eligibility criteria, are available on the Revenue Website (www.revenue.ie – under ‘COVID-19 Support Schemes’). The scheme is available to eligible businesses, who meet the relevant qualifying criteria, irrespective of whether they have previously qualified for other COVID-19 related Government schemes. The scheme is now open for applications.
Eligible businesses can make a claim to Revenue for a single payment (known as an Advance Credit for Trading Expenses) equal to three times the sum of:
- 10% of the average weekly turnover of the business in 2019 up to €20,000 and
- 5% of the portion of average weekly turnover that exceeds €20,000.
The maximum amount that can be claimed under the scheme is capped at €15,000.
A qualifying person for the purposes of the BRSS is a company, self-employed individual, charity, approved sporting body or partnership who is carrying on a relevant business activity/trade. A trade is any trade, the profits or gains arising from which are chargeable to tax under Case I of Schedule D.
To qualify under the scheme, a business must be able to demonstrate that the turnover from its trade, in the period from 1 September 2020 to 31 August 2021, will be no more than 25% of a prior reference period turnover amount. Further details regarding eligibility can be found in Section 4 of the published guidelines. The applicant must have tax clearance and, where applicable, have complied with VAT obligations. The business must also be actively trading at 1 September 2021 and intend to continue to do so.
Eligible businesses can now register for the scheme on the Revenue Online Service (ROS). A claim portal for BRSS payments is available via the eRepayments system on ROS. Applications for support under the scheme may be made between 4 September 2021 and 30 November 2021. Accordingly, businesses should register within this timeframe to avoid losing out.