The TBESS was introduced to support businesses with increases in their electricity or natural gas (energy) costs.

Your business can make a claim under the scheme if it :

• is tax compliant

• carries on a Case I trade or Case II profession. This includes charities and approved sporting bodies that carry on certain activities

       and

• has experienced a significant increase of 50% or more in its electricity and/or natural gas average unit price.

Qualifying businesses can claim for 40% of the increases in their energy bills subject to a monthly cap The increase in energy bills must be between the ‘claim period’ and the ‘reference period’.

A claim period is a calendar month from September 2022 to February 2023. A reference period is the corresponding calendar month in the previous year. For example, September 2021 is the reference period for the September 2022 claim period.

Registration

You can register on ROS for the scheme from 26 November 2022.

Claim 

You can make a claim on ROS for the scheme from 5 December 2022

Read More 

Guidelines : https://revenue.ie/en/starting-a-business/documents/tbess-guidelines.pdf

Disclaimer :

Whilst every effort has been made to ensure the accuracy of matters covered by this article, no responsibility for loss or damage occasioned by any person acting, or refraining from acting, as a result of matters above. Professional advice should always be sought before acting on any interpretation of matters covered by this article.

27 November 2022