Updated details of Covid Restrictions Support Scheme (CRSS) released

The government has revealed full details of the Covid Restrictions Support Scheme (CRSS) to support businesses which have been significantly impacted by restrictions placed upon them by COVID-19 restrictions, including those in the beauty and hair sectors.

Operated by Revenue, CRSS is open to companies and the self-employed working from business premises within geographic locations where the COVID-19 restrictions at Level 3, 4 or 5 of the government's Plan for Living with COVID-19 are in place. The scheme will run until 31st March 2021.

Those qualifying will receive an Advance Credit for Trading Expenses cash payment, equal to 10% of their average weekly turnover in 2019 up to €20,000 and 5% thereafter, subject to a maximum weekly payment of €5,000, for each week that their business is affected by the COVID-19 restrictions.

New businesses established between 26th December 2019 and 12th October 2020 will be entitled to make a claim based on their actual weekly average turnover in the period between the date of commencement and 12th October 2020 (subject to the weekly cap of €5,000).

A business must demonstrate that, because of the COVID-19 restrictions, its turnover 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 (or average weekly turnover in 2020 in the case of a new business) multiplied by the number of weeks in the period for which a claim is made.

Registration for the Covid Restrictions Support Scheme (CRSS) is open now on the Revenue Online Service (ROS) with the claims process available from mid-November.