The Minister for Finance, Paschal Donohoe TD, has today (Monday) announced that 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.
Click here for PDF on the BRSS