Contact Us
Tourism Business Continuity Scheme

Article

Tourism Business Continuity Scheme

A new €55m fund to assist tourism businesses that have been impacted by the COVID-19 pandemic has been launched

The Tourism Business Continuity Scheme that was announced in last October's Budget has been launched to provide support to providers of tourism services who have been unable to qualify for the COVID-19 Restrictions Support Scheme (CRSS) or earlier grant schemes.
 
The new Tourism Business Continuity Scheme is designed to help tourism businesses offset their fixed costs incurred last year and support them to continue operating through 2021.
 

Who can apply?

The scheme is open to businesses including outdoor activity providers, visitor attractions not eligible for CRSS, as well as caravan and camping providers registered with Fáilte Ireland and cruise hire firms that meet the eligibility criteria.
 

Eligibility criteria

  • The business’s monthly turnover from October 2020 to January 2021 must be less than 25% of its average monthly turnover in 2019
  • The business must have a minimum annual turnover of €50,000 and minimum fixed costs of 10% of turnover
  • The business must not be able to qualify for assistance under the CRSS or have received funding from the Fáilte Ireland Coach Tourism Business Continuity Scheme or Ireland Based Inbound Agents Business Continuity Scheme
 

When can I apply?

Full details of the grant will be available on the Fáilte Ireland website on 11 February 2021 and businesses can apply from March 2021.
 

How much can I receive?

The minimum grant is €3,750 and the maximum grant is €200,000.
 
 
As we learn more about the Tourism Business Continuity Scheme we will publish the details in our COVID-19 Knowledge Hub. 
 

Date published 3 Feb 2021 | Last updated 3 Feb 2021

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

Related articles

Changes to the COVID-19 Wage Subsidy Scheme
Changes to the COVID-19 Wage Subsidy Scheme

7 months ago

Self employed can access increased Illness or unemployment benefit
Self employed can access increased Illness or unemployment benefit

7 months ago

Revenue’s TWSS compliance programme – what employers need to know
Revenue’s TWSS compliance programme – what employers need to know

7 months ago

Trustpilot

Choose the right accounting firm for you

Running your own business can be challenging so why not let TaxAssist Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch?

Local business focus icon

Local business focus

We specialise in supporting independent businesses and work with 6,246 clients. Each TaxAssist Accountant runs their own business, and are passionate about supporting you.

Come and meet us icon

Come and meet us

We enjoy talking to business owners and self-employed professionals who are looking to get the most out of their accountant. You can visit us at any of our 23 locations, meet with us online through video call software, or talk to us by telephone.

Switching is simple icon

Switching is simple

Changing accountants is easier than you might think. There are no tax implications and you can switch at any time in the year and our team will guide you through the process for a smooth transition.

See how TaxAssist Accountants can help you with a free consultation

045 814418

Or contact us