CRSS – COVID RESTRICTIONS SUPPORT SCHEME

The proposed Covid Restrictions Support Scheme “CRSS” was published in the Finance Bill 2020. It is a targeted support for businesses significantly impacted by restrictions introduced by the Government to control to spread of Covid19.

• CRSS will provide support for businesses carrying on a trade from a business premises located in regions subject to restrictions introduced in line with the Living with Covid19 Plan, with the result that the business is required to prohibit or severely restrict customers from accessing their business premises. Generally, this refers to Covid restrictions at Level 3, 4, or 5 of the Living with Covid19 Plan but certain businesses may qualify for support where a lower level of restriction is in operation.
  
• Where a business is either forced to temporarily close or operate at a significantly reduced level because of the restrictions the business may qualify for support.

• To qualify for CRSS, businesses must be able to demonstrate that because of the restrictions, the turnover of the business in the period for which the restrictions are in operation will be no more than 25% of an amount equal to the average weekly turnover of the business in 2019 multiplied by the number of weeks for which a claim is made.
  
• A qualifying business can claim for a cash payment known as an Advance Credit for Trading Expenses (ACTE) equal to 10% of their average weekly turnover up to €20,000 and 5% thereafter, subject to a maximum weekly payment of €5,000.
  
• Other qualifying conditions must also be satisfied including:
  > The business must have been issued with a tax clearance certificate and complied with any obligations with regard to registering for and accounting for VAT.
  > The business intends to resume trading once restrictions are lifted.
  > The business has registered for CRSS on ROS and provided all information required.
  > The business applies for ACTE on ROS and makes the necessary declarations.

CRSS is due to run from 13 October 2020 to 31 March 2021. Claims must be submitted within 8 weeks from the date the claim period commences.

If you feel your business has been affected by restrictions imposed under the Living with Covid19 plan talk to us without delay.