New Covid Restrictions Support Scheme (CRSS) Supports Businesses Impacted by Covid-19

New Covid Restrictions Support Scheme (CRSS) announced by Government to support businesses impacted by Covid-19. Eligible businesses can now register on Revenue for this new Scheme. Taxpayers will be able to make a claim for the period their business is limited from operating due to public health guidelines and restriction, and receive a cash payment in respect of an advance credit for trading expenses for the period of the restrictions. 

The Scheme will generally operate when Level 3 or higher is in place and will cease when restrictions are lifted. The scheme operates from 13 October 2020 to 31 March 2021. 

How to Qualify?

To qualify, businesses must demonstrate that, because of Covid-19 restrictions, the turnover of the business in the period for which the restrictions are in operation, and for which a claim is made, will be no more than 25% of an amount equal to the average weekly turnover of the business in 2019 (or average weekly turnover in 2020 in the case of a new business) multiplied by the number of weeks in the period for which a claim is made. 

Where Can I Get More Information? 

Click here to find out more about the Covid Restrictions Support Scheme