Updated 11 November 2020
COVID-19 has created an unprecedented health, social and economic environment worldwide. We know this is a time of great upheaval and worry for many businesses, so we have compiled a summary of the financial measures in place today to alleviate some of the financial burden for businesses.
Since March 2020, the financial assistance available has been constantly updated so it is important to ensure you check the latest available information.
The Employer Wage Subsidy Scheme is of critical importance to a lot of employers. There have been many versions of the Scheme since March 2020. In simple terms, the Scheme is:
The Government have introduced a scheme for businesses and others to “warehouse” tax debt and defer payment. The detail can be found here:
The Revenue have announced a number of measures to assist businesses and taxpayers. The latest update from Revenue can be found here:
Revenue have announced other measures/provided guidance in a number of very specific areas, including:
Full details are here:
The Government have a wide range of supports for businesses impacted by COVID-19. The supports are constantly changing during the pandemic. We recommend the following Government website as the best source of information on what is currently available.
We understand this will be a difficult time for businesses, and we are here to help. If you wish to discuss any of the measures outlined above or how the COVID-19 crisis is affecting your business, please contact your Twomey Moran adviser. Click here for our contact details.
We hope that you and yours are safe and well during these difficult times.