Government announce Pandemic Income Support Schemes

Employee Supports

The Government have asked all employers to effectively act as Social Wefare offices and pay staff the rate of €203 per week at a minimum from business bank accounts for laid off staff.

This can be reclaimed from Social Welfare later by the business.

In theory it’s a good idea, but for many businesses’ this will be impossible without the support of the banks as the majority of those first wave of lay-offs are linked to the Pub and Restaurant sector of the economy.

Where an employer cannot arrange a payment, employees should be given the Pandemic Unemployment Payment form 

Business Supports

Revenue have announced a broad range of supports as follows:

- Interest on late payments for Jan/Feb 2020 VAT has been suspended

- Interest on late payments for Feb/Mar 2020 PAYE has been suspended

- All enforcement (sheriff etc) has been suspended until further notice

- Tax Clearance Certifcates will not be retracted

Imports

All imports can expect to give way to medical/pharma related goods

As this is an ever evloving situation, we will keep you updated on all business related topics. 

If you have any questions on how this will impact you and your business, please contact us on info@iconaccounting.ie