CRSS Overview
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.
First step: Register for CRSS
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 the corresponding time period in 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 25% of the corresponding turnover period in 2019.
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.
Eligibility
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.
Turnover may not exceed 25% of the corresponding turnover period in 2019.
How does CRSS operate?
Once the region the business is operating in has been impacted by level 3 restrictions or higher, the business can claim in week one of restrictions and valid claims will be paid in full for the entire period of the restrictions in 2 – 3 working days.
- Once the money is paid out it can be used to pay rent and any business-associated costs.
- Payments automatically cease as restrictions are lifted.
- The claimant may apply again if restrictions are re-imposed.
The date from which a claim can be made will be determined by the level of restrictions in place in the specific geographical location(s) during January 2021 (to be revised as the situation is updated)
Timeframe
- The scheme will run from 13 October 2020 to 31 March 2021.
- Applications opened via Revenue on 17 November 2020 .
- First Payments will be made week ending 20 November.
- Payments will be backdated to 13 October for businesses who were eligible at that time.
Further Reading
- Revenue.ie [PDF] Detailed Guidance on the CRSS, including how to register for, and make a claim under the scheme.
- Minister Donohoe announces additional ‘restart week’ under Covid Restrictions Support Scheme to assist businesses in reopening, 25 November 2020
- Revenue.ie Revenue confirm eligible businesses can make a claim under CRSS from 17 November 2020
- Revenue.ie Revenue advise that eligible businesses can now register for CRSS 03/11/2020
This article was updated on 18 January, 2021.
We are here to help. If you have any queries in regard to CRSS please get in touch by email info@avidpartners.ie or call on 0818 303087.
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