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ARTICLE · 04 OCTOBER 2021

Business Resumption Support Scheme

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We have written on various government initiatives designed to help businesses recover from the effects of the COVID-related shutdown, including the COVID-19 Credit Guarantee Scheme.

IrelandFinance and Banking
Michael Hastings
Michael Hastings
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We have written on various government initiatives designed to help businesses recover from the effects of the COVID-related shutdown, including the COVID-19 Credit Guarantee Scheme. Another important step was taken when the Minister for Finance announced on 6 September that the Business Resumption Support Scheme ("BRSS") is open for registration on the Revenue Online Service. A guidelines document has been provided and further details are available on the Revenue website.

The BRSS is provided for in section 5 of the Finance (Covid-19 and Miscellaneous Provisions) Act 2021 enacted in July. It is a new support scheme for businesses with reduced turnover as a result of public health restrictions. Qualifying businesses will be able to apply to Revenue for a cash payment, representing an advance credit for trading expenses that are deductible for income and/or corporation tax purposes. Applications under the scheme may be made between 1 September 2021 and 30 November

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