COVID-19 Business Aid Scheme (CBAS)

The Government announced a new scheme that targets businesses currently ineligible for CRSS and other sector-specific grants.

 

Leo Varadkar’s statement says it’s to help “some businesses that aren’t eligible for existing grants, largely due to the fact that the premises they operate from have not been closed to the public” and he includes wholesalers, suppliers, caterers, office-based businesses and events companies down 75% or more in turnover in the examples that he gives.

 

The provisional criteria are:

 

  • the scheme would be available to companies, self-employed, sole traders or partnerships; minimum turnover of €50,000
  • are not owned and operated by a public body
  • the business is not eligible for CRSS or Fáilte Ireland Business Continuity Scheme
  • they are in receipt of a rates bill from their local authority for a business that operates from a building, or similar fixed physical structure on which business rates are payable (mobile premises, or premises which are not permanently fixed in place, do not meet the definition of business premises nor do premises on which no rates are payable)
  • the business must have a current eTax Clearance Certificate from the Revenue Commissioners
  • the turnover of the business over the claim period is estimated to be no more than 25% of the:

– average weekly turnover of the business in 2019; or

– the projected average weekly turnover of the business for 1 January to 30 June 2021 for businesses that commenced after 1 November 2019; and

  • the business intends to resume trading in full once government restrictions are eased

 

The Scheme will be administered by the Local Authorities.

The application process has not yet opened.