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Updated Details of Government Income Support Scheme

Updated Details of Government Income Support Scheme

Income Support Scheme

An eligible employer will be supported up to 70% of an employee’s take home income up to a maximum weekly tax free payment of €410 (that is, 70% of take home weekly income of €38,000 per annum). The scheme will provide support on incomes up to €76,000 or twice average earnings. It will be capped at net €350 for incomes between €38,000 and €76,000.

The employer is expected to make best efforts to maintain as close to 100% of normal income as possible for the subsidised period. Revenue will provide further guidance on operation of the scheme: https://revenue.ie/en/Home.aspx. There will be severe penalties for any abuse of the scheme.

Eligibility for the Income Support Scheme

Employers must self-declare to Revenue that they have experienced significant negative economic disruption due to Covid-19, with a minimum of 25% decline in turnover, and an inability to pay normal wages and other outgoings, in accordance with guidance to be issued by Revenue.

This scheme is open to impacted employers in all sectors. This recognises the impact that Covid-19 is having across all parts of the economy.

The employee must have been on the payroll in February 2020.

Self-employed Workers

Self-employed who qualify will be paid the COVID-19 Pandemic Unemployment Payment of €350 rather than through the Revenue scheme. They will be eligible on a similar basis as the Revenue scheme for employees.

How to Apply

Revenue and the Department of Employment Affairs and Social Protection will provide details to employers on how to apply: DEASP Website

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Michael Flood is an experienced travel expert with over 35 years' experience of the airline industry and the travel and tourism world.

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