On 22 June 2021, the Government published the Finance (Covid-19 and Miscellaneous Provisions) Bill 2021. The Bill includes amendments to existing supports which were announced in the Economic Recovery Plan 2021 on 1 June 2021 and the introduction of a new business support, the Business Resumption Support Scheme (BRSS).

Section 5 of the Bill includes legislation for this new scheme which is intended to support businesses that were significantly impacted throughout the COVID-19 pandemic as referenced above. The section inserts a new section 485A into Chapter 2 of Part 15 of the Taxes Consolidation Act (TCA) 1997.

BRSS is available to affected self-employed individuals and companies who carry on a trade, the profits of which are chargeable to tax under Case I of Schedule D. It is also available to persons who carry on a trade in partnership, and any trading activity carried on by charities and sporting bodies.

To qualify under the scheme, the turnover of the business during the period from 1 September 2020 to 31 August 2021 must be no more than 25% of its turnover when compared to the reference period. The reference period is dependent on the date that the business commenced its relevant business activity. For most businesses, the reference period will be 2019 but it will be a later period if the business was established on or after 26 December 2019.

Qualifying taxpayers can claim “an amount equal to three times the amount as derived by 10% of their average weekly turnover during the reference period” up to €20,000 and 5% thereafter, subject to a maximum payment of €15,000. Payments made under the scheme will be treated as an advance credit for trading expenses.

To make a claim under the scheme, a number of other conditions must be satisfied including that the person; has an up-to-date tax clearance certificate; has complied with their VAT obligations; is not entitled to make a claim for the CRSS scheme in respect of any week that includes 1 September 2021; and the business is actively carrying on its trade and has an intention to continue to do so. Claims for the BRSS must be made through ROS and claimants are required to complete a declaration that they satisfy the conditions of the BRSS. Provision is made for the publication of the names of claimants of BRSS on Revenue’s website.

The Finance (Covid-19 and Miscellaneous Provisions) Act 2021 was signed by the President of Ireland, Michael D. Higgins on 19 July 2021.