What is CRSS?

If any business is restricted to operate fully or at a certain level when the government is undertaking the COVID-19 plan, the business can claim for the Advance Credit for Trading Expenses (ACTE), which is to be payable for each week the business is affected.

 

CRSS Rate:

The ACTE is calculated to equal 10% of the average weekly turnover of the business in 2019 up to €20,000, with an extra 5% on turnover over €20,000. The maximum weekly payment is €5,000.

 

Who is eligible?

  • Companies, self-employed individuals and partnerships
  • Profit chargeable under Case I of Schedule D
  • Businesses that their customers / clients are necessary to be in the business premises.

 

Qualification: 

1.Required to close their business on a temporary basis or work at significantly reduced volumes.

  1. Must demonstrate that the business premises are impaired by the government’s restrictions.

3.Should prove that the turnover is less than 25% of the overall volume equivalent to the average weekly turnover in 2019 due to the Covid-19 restrictions. PUP and other subsidies are not used in the estimation of turnover.

  1. Must have up to date tax clearance certificate and satisfy with VAT obligations

 

Generally acceptable business premises examples:

Hotel, Restaurant, Bars, Pubs, Beauty Salons, Hairdressers.

 

How to make a claim

  1. Register on ROS
  2. Make a claim on e-repayment 
  3. Make declarations on eligible criteria, tax clearance,weekly turnover details

 

Claim Periods

Claim must be submitted within 8 weeks of the start of the claim period.

 

Double payment

Businesses that are restricted to reopen in December 2020 are allowed to claim for double the amount of the ATCE payment.

 

Reference: https://www.revenue.ie/en/self-assessment-and-self-employment/crss/index.aspx

 

Accounting Pro is Ireland’s premier contractor accounting service.  We are here to help the busy contractor and company, with all your accounting and payroll needs. We are both an umbrella company and umbrella corporation and we can create your limited company. We are experts in contractor pensions, contractor health insurance, illness and sick benefit for the self employed and contractor expenses. To learn more about what we do please review https://www.accounting-pro.ie/  and contact us by email:  info@accounting-pro.ie or phone us +353 1 592 1802. For the UK see Accounting-Pro UK. “CRSS-Covid Restrictions Support Scheme” is an article written by Accounting-Pro Ireland for the benefit of everyone. Feel free to share it but please give attribution on a CC BY-SA license.

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