Energy supports for business – all you need to know
- Temporary measures have been introduced to help businesses with the increase in their electricity or natural gas costs.
- The scheme is available to all business who are tax compliant; carry on a Case 1 or Case 11 profession and have experienced a significant increase of 50% or more in their electricity or natural gas average unit price.
- A business that qualifies can claim for 40% of the increase in their energy bills.
- It will also be available to ‘Pay As You Go’ customers provided that they meet the criteria.
- To make a claim you will need to register with Revenue for the temporary energy support scheme on the Revenue Online Services (ROS) and complete details about your business, make a declaration confirming eligibility for the scheme and provide details in respect of the energy costs incurred in the claim period.
- The claims are subject to a four-month time limit from the end of the claim period and are also subject to a limit of €100,00 in most cases.
- If a business operates from different locations, then they can submit claims for each location and the €10,000 limit is for each electricity account.
- Every business should examine their energy costs and compare them against the corresponding period last year to see if they are eligible to make a claim under the scheme.
Philip Salter is an accountant with FDC Skibbereen.