News

Library of Knowledge No. 29.

As announced on 23^rd July in the July Stimulus Package, the Temporary Wages Subsidy Scheme (TWSS) will be replaced by the Employment Wages Subsidy Scheme (EWSS) from 1^st September 2020 and is expected to continue to 31^st March 2020.

Qualifying Criteria for Employers.

To qualify for the scheme, you must be able to demonstrate that:

• Your business will experience a 30% reduction in turnover or orders between 1^st July and 31^st December 2020

and

• This disruption is caused by COVID-19

You are required to undertake a review on the last day of every month to ensure you continue to meet the above eligibility criteria. If you no longer qualify, you should deregister for EWSS with effect from the following day (that being the 1 of the month).

Certain categories of employees are excluded including proprietary directors or newly hired connected parties.

The scheme will be administered by Revenue on a ‘self-assessment basis’.

Amounts Subsidy Support

Level of subsidy the employer will receive is per paid employee:

Employees Gross Weekly Wage	€ Subsidy payable
Less than € 151.50	NIL
From € 151.51 to € 202.99	151.50
From € 203.00 to € 1,462.00	203.00
From € 1,462+	NIL

PRSI

A 0.5% rate of employers PRSI will continue to apply for employments that are eligible for the subsidy.

For further information see: https://www.revenue.ie/en/corporate/communications/covid19/employment-wage-subsidy-scheme.aspx

Stay safe and well.