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One of the main aims of Budget 2023 was to deliver money back to businesses with the goal of providing a buffer against recent cost of living increases, and the Temporary Business Energy Support Scheme (TBESS) was announced for this purpose.
In February, in order to reduce red tape, and increase the attractiveness of the TBESS, the Government announced some updates.

Can I apply for the Temporary Business Energy Support Scheme (TBESS)?

The scheme is for limited companies, partnerships or self-employed individuals carrying out a trade or profession, that are experiencing a 30% or above increase in their gas and electricity average unit price (when compared to the same period in 2021). (Previously companies had to show a 50% increase in bills year-on-year but this was changed to 30%).
You must be tax compliant to apply. 

How much will this scheme be worth to me?

From September 2022 to February 2023 the scheme was to pay eligible businesses up to 40% of the increased cost of electricity or gas bills, subject to a limit of €10,000 per premises per month. And up to a total of €30,000 per month for a business that has multiple trades or locations. 
From 01 March 2023 the scheme will pay eligible businesses up to 50% of the increased cost of electricity or gas bills, subject to a limit of €15,000 per premises per month. And up to a total of €30,000 per month for a business that has multiple trades or locations. 
An overall cap of €2 million applies for most eligible businesses.
When the relevant billing information is entered into ROS, the system calculates the Temporary Business Energy Payment (TBEP). 

Who will be administering the scheme?

The TBESS is administered by Revenue. 

When can I apply?

The scheme opened on 26 November for businesses to register.
You can make a claim from 05 December 2022.
Payments are expected to be made before the end of the year when the Finance Act is passed into law.

How can I apply?

You can register and make a claim through ROS.

What do I need to apply?

To assess whether you qualify you need to retrieve your gas and electricity bills for the business for September 2021 to May 2022 and for September 2022 to May 2023 (when they arrive). You cannot simply take the bill total for each month and compare it to last year you will need to assess what the unit price is now versus last year. You might find that your bill has more than one-unit price in which case an average unit price will need to be calculated.
If you are a new business and were not in operation last September, then you will use a deemed unit price (to be provided by the SEAI).

How long will the scheme run for?

Originally the scheme was to run from September 2022 to 28 February 2023. It has now been extended to 31 May 2023.

Date published 1 Nov 2022 | Last updated 2 Mar 2023

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.

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