Changes to the Wage Subsidy Scheme
The Temporary Wage Subsidy Scheme (TWSS) is changing to the Employment Wage Subsidy Scheme (EWSS). Unfortunately, there is more involved than a name change. The new EWSS comes into effect from the 1 September 2020. In order to qualify for the EWSS your business must suffer a 30% reduction in Turnover/Orders for the period July to December 2020 compared to the Turnover/Orders for July to December 2019.
If you qualify for the EWSS you are required to undertake a review on the last day of every month to ensure you continue to meet the above eligibility criteria. If you no longer qualify, you should deregister for EWSS with effect from the following day i.e. the first day of the next month.
There is also a change in the rates paid under the subsidy:
Level of subsidy the employer will receive is per paid employee
If you are currently still eligible for the subsidy the rates will remain the same up until 31 August 2020.
The Revenue have produced a guide which can be found here.
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