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Government Announcements and what it means for SME’s

While the full details have yet to be revealed we do know the key elements of the plan and we look to see how these will impact businesses in Ireland

What’s New?

Business Resumption Support Scheme (BRSS)

To be implemented in September 2021, this new scheme is aimed at helping businesses that have been significantly impacted by the pandemic since March 2020.

Eligibility will be for businesses who have seen their turnover reduced by 75% when comparing Sept 2020 to August 2021 compared with 2019.

Businesses who previously availed of other schemes such as the CRSS, SBASC or Tourism Business Continuity Scheme will be eligible to apply.

The scheme will administered by revenue and will be in the form of a cash payment.

Small Companies Administrative Rescue Process (SCARP)

A new dedicated standalone examinership process is being established.

This will cost less and have a shorter timeframe than the current examinership process.

A new dedicated standalone examinership process is being established.

This will cost less and have a shorter timeframe than the current examinership process.

What’s being updated?

Covid-19 Restrictions Support Scheme (CRSS)

The CRSS will be extended beyond 30 June until the end of the year. As firms are able to re-open and exit the scheme, there will be an enhanced restart payment.

Three weeks at double rate of payment to support businesses in meeting the costs of re-opening as they exit the scheme.

The maximum re-start payment will be increased to €10,000 per week, allowing businesses to receive up to a maximum of €30,000.

Commercial Rates Waiver

This is to be extended to the 30 September 2021 in its current form.

Debt Warehousing Scheme

Overpayments of Employment Wage Subsidy Scheme can now also be included in the scheme.

The Tax Debt Warehousing Scheme will be extended to the end of 2021 for all eligible taxpayers with an interest free period during 2022. COVID related liabilities will then fall to be paid from 1 January 2023.

Vat 9%

The VAT rate of 9% is extended to 1 September 2022. This will be a welcome boost to the tourism and hospitality sector.


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Wishing you all the best,

The Team at Solve

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