Introduced as part of Budget 2021, the Covid Restrictions Support Scheme (CRSS) is a weekly rebate of up to €5,000 for businesses closed at level 3 or higher effective from 13 October 2020 until 31 March 2021.
The scheme is designed to be a lifeline to those whose businesses have been severely impacted or temporarily closed due restrictions imposed by the Government’ Living with Covid Plan 2020 – 2021.
Generally, the scheme will operate when level 3 or higher is in place and support will cease as soon as restrictions are lifted.
CRSS Registration Now Open
Registration for CRSS is a necessary first step for businesses to access CRSS.
A claim portal for the CRSS is available via the eRepayments system on ROS from 17 November 2020.
It will only be possible to make a claim if the eligible business has an ‘active’ CRSS registration. Eligible businesses who have not yet registered for the scheme can do so via the e-Registration facility in ROS before submitting a claim.
How are payments calculated?
Payments are made based on the average weekly, vat-exclusive turnover for 2019.
Qualifying businesses can apply to Revenue for a cash payment, representing an Advance Credit for Trading Expenses (ACTE), deductible for Income Tax or Corporation Tax purposes.
Turnover may not exceed 20% of the corresponding turnover period in 2019. * This figure was changed to 25% following Government announcement 20/10/2020 prior to nationwide 6 week lockdown.
The weekly payment will be calculated by reference to the average weekly turnover for 2019 in respect of the relevant business activity as follows:
• 10% of average weekly turnover in 2019 up to €20,000
• 5% of average weekly turnover in 2019 in excess of €20,000
• and, subject to a weekly maximum of €5,000.
See here for Covid Restrictions Support Scheme (CRSS) overview and worked examples via revenue.ie.
CRSS operates on a self-assessment basis.
There may be audits after the fact.
To qualify, a business will have to demonstrate that turnover has been severely impacted and customers are prohibited or significantly restricted from entering the business premises.
Turnover may not exceed 25% of the corresponding turnover period in 2019.