The Temporary Business Energy Support Scheme provides;
- 40% of energy increase maximum €10,000
- Maximum €30,000 if multiple MPRN
- Covers 1/9/22 – 31/12/22 to be extended to 28/2/23
Subject to State Aid approval, once legislated for, it is expected that the Temporary Business Energy Support Scheme will be backdated to September 2022 and will run until February of next year. It will be available to tax compliant businesses that are chargeable to tax under Case 1 of Schedule D. This means that, for example, hotels, retail shops, pubs, restaurants, cinemas, entertainment venues, food and drinks suppliers, farmers, etc would be within the scope of the scheme where they meet the eligibility criteria. The scheme will be operated on a self-assessment basis.
It is aimed at businesses whose average unit gas or electricity price has risen by over 50% compared with their average unit gas or electricity price in 2021. The credit will be calculated as 40% of the excess of the 2022 bill over the 2021 bill, capped at €10,000 per trade per month. Overall caps per undertaking will also apply as set out in the EU Temporary Crisis Framework.
For further details, please feel free to contact me on 0877979890.
