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Eligible businesses can claim cash payments under the Government’s Covid Restrictions Program starting today.
The scheme is designed to help businesses that have had to close or have seen a large reduction in trading due to the introduction of Level 3 or higher government restrictions to counter the spread of Covid-19.
So far, around 9,500 companies have registered to participate in the CRSS, which will allow them to receive payments of up to € 5,000 a week to help them with cash flow and help them survive.
To qualify, participating firms must have completely closed or restricted clients from their facilities due to government-imposed Covid measures.
They must also have a turnover of no more than 25% of their average weekly turnover last year.
If the company began trading after December 26 of last year, the measure will be its average weekly turnover this year.
They must also be tax-cleared and intend to reopen after government restrictions are lifted.
To make a weekly claim, businesses must first register through the electronic registration system in the Online Revenue System (ROS).
Claims must then be made through the eRepayments portal in ROS, which will be activated today.
Qualified businesses will be paid based on 10% of their average weekly turnover from last year up to a maximum of € 20,000 and 5% of their average weekly turnover above the € 20,000 level, capped at € 5,000 per week .
Income believes that the current period of national restrictions began on October 13 when the plan was announced in the 2020 Budget, and runs until December 1.
Once approved, payment for the entire period claimed will be paid within three days.
However, Revenue says that in the case of future periods of restrictions, each company will have to reevaluate their eligibility for the scheme.
If a business is determined eligible on subsequent applications, payment will be made in blocks of up to three weeks.
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