Contact Us
Supports for the Music Industry

Questions and Answers

What support schemes are available to people in the music industry?

I run a small music business and was wondering what COVID-19 supports are available to me?

A €50 million suite of measures to support the live entertainment industry in Ireland during the COVID-19 pandemic has been revealed. 
 
There are two main supports that may help small music business in the coming months:
 

Live Performance Support Scheme (LPSS)

 
Established sole traders and music businesses that have a proven record of accomplishment in the live performance sector can avail of this scheme if they are planning to hold a live performance/event on or before 30 September 2021.
 
To apply you must be you must be tax compliant and you must not be funded by the public sector from 2018 - 2020 (excluding COVID-19 supports).
 
The minimum grant will be €10,000 and the maximum grant will be €800,000.
 
This Scheme will open for applications on 19th March 2021 and you can find out more here 
 

 

Music Entertainment Business Assistance Scheme (MEBAS)

 
The Music Entertainment Business Assistance Scheme (MEBAS) will see €14 million in supports allocated to assist businesses that have been significantly impacted by COVID-19 but have yet to qualify for other business supports, like the CRSS. Sole traders, partnerships and companies operating exclusively within the commercial live entertainment sector can apply.
 
This scheme will see support offered by way of two levels of flat payments:
 
  • €2,500 for businesses with a VAT-exclusive turnover of €20,000 - €100,000; 
  • €5,000 for businesses with a VAT-exclusive turnover in excess of €100,000.
The scheme is expected to open next month for applications. 
 
 

Date published 11 Mar 2021 | Last updated 11 Mar 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

6 months ago

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

6 months ago

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

6 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

045 249 000

Or contact us