COVID Restrictions Support Scheme (CRSS) Calculator

The COVID Restrictions Support Scheme (CRSS) has recently begun accepting claims following its announcement in Budget 2021.

The scheme has been designed to provide cashflow support to businesses that have been forced to close their doors or have seen their potential to trade severely impacted because of COVID-19 restrictions. It will run effective from 13 October 2020 to 31 March 2021 and all claims will be backdated to the start date where the eligibility criteria is met.

Check if you are eligible for the scheme and calculate your weekly subsidy entitlement with our calculator below.

To be eligible for the scheme, you must:

• Be operating from a premises where access has been restricted as a result of the government’s Plan for Living with COVID-19
• Have generated an average weekly turnover in the restricted (claim) period of less than 25% of your average weekly turnover in 2019
• Hold a valid Tax Clearance Certificate and keep your tax affairs up to date for the duration of the scheme

The weekly payment will be calculated by reference to the average weekly value of the VAT-exclusive turnover for 2019 (or effectively 2020 in the case of new businesses), as follows:

• 10% of the first €20,000
• 5% of the balance
• Up to a maximum payment of €5,000 per week

How to claim
Eligible businesses must first register for CRSS on Revenue Online Service (ROS) and then complete a claim in respect of a claim period. A business can make a claim for the current period of restrictions up to 1 December which can be backdated to 13 October, subject to the date your business was restricted.

For any restricted periods after 1 December, a business can make a claim for a maximum of three weeks at a time and can base their turnover on projections when making a claim in advance. 

In addition, where any period of restrictions has lasted for at least three weeks, a qualifying business may claim an additional payment under the scheme for the first week of re-opening. 

Your COVID Restrictions Support Scheme (CRSS) Calculator

Crowe have prepared a simple tool which will help businesses to assess their eligibility to the scheme and calculate their weekly subsidy entitlement.

^{Please note:
This calculator is indicative only and for information purposes. It should not be used as a sole basis for calculations submitted to Revenue. Please contact Crowe for more detail.}

Comment
The scheme is a welcome boost for the hospitality industry that has been acutely affected by the ongoing government restrictions throughout 2020. It was widely accepted that the measures announced in the Budget were positive, welcomed and necessary for the viability of the industry.

The CRSS scheme will provide an injection of short-term cashflow support in recognition of the inability  to trade for most businesses, while the extension of the EWSS scheme (or equivalent) through 2021 provides security of staff retention for both the employer and employee.

Additionally, the reduction in VAT rate to 9% for the hospitality and tourism sectors, will result in an enhanced margin on turnover when trading resumes in 2021.  

If you require assistance with any funding challenges or tax requirements you face as a result of the pandemic, please contact a member of our tax or corporate finance teams.