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Wed, 10 Mar 2021
Changes have been made to the Salary Support Scheme.
Any business which has been adversely affected by the COVID-19 outbreak can apply, subject to certain conditions. For this scheme, adversely affected means a reduction in revenue of at least 25% due to reduced demand or closure during the period of the grant claim. A comparison for the same period in 2019 should be used to determine whether there has been a reduction in revenue.
The Treasury has been contacted by a number of businesses which were in their relative infancy in 2019 and were more established in 2020. They may therefore be able to comply with this requirement when comparing the turnover figures to those of 2020 rather than 2019.
In light of this, a decision has been made that for periods 12 and 13 (January and February 2021) businesses can make comparisons in turnover to the same period in either 2019 or 2020.
Claims for periods 12 and 13 that have previously been rejected on the basis of a comparison to 2019 will be reviewed and applicants contacted accordingly.
Any applicants that have not claimed for period 12 or 13 on the basis that their turnover is not 25% down compared to the same period in 2019 but would be down if turnover is compared to 2020 are now invited to submit a claim for these periods.
Period 12 is now closed. However applications for this period submitted in line with the circumstances outlined above can be accepted on the basis that a delay in submission is due to circumstances outside the applicant’s control.
The updated Salary Support Scheme guidance can be found at https://covid19.gov.im/businesses/funding-support/salary-support-scheme/
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