Covid 19 Business Supports - National Lockdown October 2020

National Lockdown October 2020 - All Business Supports 

On Monday 19th October, Taoiseach Micheál Martin announced that Ireland will be moving to Level 5 at midnight on Wednesday  21st October.  See the measures that will come into place here.


Government supports for COVID-19 impacted businesses

There is a wide range of supports available to help businesses impacted by the COVID-19 crisis.

Financial supports, training and guidance to help your business mitigate the impact of COVID-19 and return to work safely:

Measures Announced in Budget 2021 to Support Businesses through Covid Crisis 

The government announced a range of measures in Budget 2021 to help businesses deal with the current crisis.

As part of the announcements, there is additional funding for the Local Enterprise Offices which will allow us to continue to support local businesses.

While details are not yet with us as of yet there were several significant announcements aimed at supporting businesses including;

  • The Covid-19 Restrictions Support Scheme (CRSS)- businesses forced to close due to Covid-19 restrictions will be able to claim up to €5,000 week from Revenue if they are forced to close due to level three or higher restrictions. Effective immediately and will run to March 2021.
  • Debt warehousing provisions for SMEs will be extended for a period of a year with no interest.
  • Vat Reduction for hospitality and tourism- 13.5% to 9%
  • Commercial rates holiday extended into next year
  • Extension of the Employment Wage Subsidy scheme through 2021
  • Self-employed allowed to earn up to €480 a month on top of their PUP
  • €30m fund administered through the Ireland Strategic Investment Fund

 

There were also several taxation changes announced

  • For the self-employed, Earned Income Credit increased to €1,650
  • The second USC band will increase slightly from €20,484 to €20,687
  • The weekly threshold for the higher rate of employer's PRSI will also increase by €4 to €398
  • Working from home allowance will remain at €3.20 per day. Remote workers can now also include the cost of broadband in their applications for rebates, as well as heating and electricity costs.

 


Kildare Local Enterprise Office Here to Support You

We at Kildare Local Enterprise Office understand that this is again a challenging time for you and your business, but you are not on your own. Our priority remains to support the Kildare business community.

The Kildare Local Enterprise Office continues to provide business advice and mentorship free of charge to assist and guide you through these difficult times. Contact us on 045 980838 or via email at localenterprise@kildarecoco.ie 

Visit our website at localenterprise.ie/kildare for a full range of business supports as well as virtual networking events to keep our business community strong and connected.