Business Resumption Support Scheme Open for Registration
The Business Resumption Support Scheme (or BRSS) is now open for registration on Revenue Online Service (ROS). The BRSS is a new support scheme for businesses with reduced turnover as a result of public health restrictions. Qualifying businesses will be able to apply to Revenue for a cash payment, representing an advance credit for trading expenses that are deductible for income and/or corporation tax purposes.
Payments will be calculated on the basis of 3 weeks at 10% of the first €1m in turnover per week and 5% thereafter, based on average VAT exclusive turnover for 2019, and will be subject to a maximum payment of €15,000. Businesses will be required to have tax clearance and payment will be conditional on the business actively trading on 1 September with an intention to continue to trade.
An extensive PDF with guidelines on the BRSS is available here.
More information from Revenue on the BRSS is available here.