COVID-19 Pandemic Unemployment Payment (PUP)
This is a a social welfare payment, for employees and self-employed people who have become unemployed due to COVID-19. You can apply if you are aged between 18 and 66. Students and Non-EEA nationals can also apply. You will require the following to apply for this payment, A MyGovID Account, PPS Number, and bank or credit union bank account details. This payment will be paid weekly until 31st March 2021. On the 1st April 2021 you will need to apply for jobseekers payment. You need to have been employed or self – employed in Ireland on or after 13th March 2000 to apply for sane. A self-employed person can earn €120.00 per week, and continue receiving PUP payment. Once you return to employment you need to cease your claim for COVID-19 Pandemic Unemployment Payment. You can contact the DSP income support helpline on 1890 800 024 (Monday to Friday from 9am to 5pm) This payment is liable to income tax and USC at the end of year. Tax Credits will reduce tax liability.
Employment Wage Subsidy Scheme (EWSS)
This is an enterprise support that focuses primarily on business eligibility. The scheme provides a subsidy to qualifying employers based on the number of eligible employees on the employer’s payroll and gross pay to employees. EWSS replaced the Temporary Wage Subsidy Scheme (TWSS) from 1st September 2020, and operational until 31st March 2021. Employers must have a valid Tax Clearance Certificate to be eligible for EWSS and maintain tax clearance for the duration of the scheme. Reduced rate of 0.5% of employer’s PRSI is charged on wages paid which are eligible for the subsidy payment. Some seasonal and new employees’ claims may be back dated to 1st July 2020, if certain conditions are met. All employers who availed of this scheme will be published by Revenue.
COVID-19 Restriction Support Scheme (CRSS)
This support is available to business that carry on a trade or trading activities from a business premises. Trading Activities of the business must be chargeable to tax. Tax Clearance is required during the duration of this scheme. The business is required to register for CRSS, by making a declaration that it meets the eligibility criteria for the scheme. The claim period is when the business is subject to Government restrictions, and prohibit the public from entering their business premises. The rate of payment is 10% of the average weekly turnover of the business in 2019 up to €20,000.00 5% on turnover over €20,000.00. A new business the turnover is based on average actual weekly turnover in 2020. Weekly maximum weekly payment is €5,000.00. Revenue will publish a list of business who availed of the COVID-19 Restriction Support Scheme.
Please contact McGowan Accountancy Services if you have any queries in relation to the above supports.
Nuala McGowan is a public accountant with many years of experience to offer.