News

Library of Knowledge No. 67

The measures announced earlier this week improves the opportunity for business to claim the Temporary Business Energy Support Scheme (TBESS.)

The scheme is also extended until the end of May 2023.

Improvements to Scheme

• The threshold for qualification will be cut from the current 50% increase in electricity or gas costs compared to the same period a year ago, to a 30% increase.
• The level of relief will also increase from 40% to 50% of eligible costs from March 1st.

Note:

Those changes will apply retrospectively from the start of last September 2022.

The payment will remain subject to a monthly limit, but that will also rise from the current €10,000 to €15,000 per month per trade or profession from next month.

We offer our assistance at a nominal cost to review and submit your claim.  Contact our office for further information.

Criteria

Your business can make a claim under the scheme if it:

• is tax compliant.
• carries on a Case I trade or Case II profession. …
• and.
• has experienced a significant increase of 30% or more in its electricity and/or natural gas average unit price.

For further information see: https://www.revenue.ie/en/starting-a-business/tbess/eligible-businesses.aspx

Take Care.