TBESS Extended
A number of changes to the Temporary Business Energy Support Scheme (TBESS) have recently been signed into law, by way of the Finance Act 2023 and Ministerial Order1. These changes include a reduction in the energy costs threshold for accessing the scheme to 30%, as well as an increase in the amount payable under the scheme to 50% of eligible costs from 1 March 2023.
The scheme has been extended to 31 July 2023. The time limit for making a claim has also been extended to 30 September 2023 in respect of all claim periods.
Submitting claims from May 2023
A qualifying business can submit a claim on Revenue’s Online Service (ROS) for the May 2023 claim period from Monday 29 May 2023. Claims for the June and July 2023 claim periods can be made as soon as energy bills covering these periods are available.
To make a claim for the May, June and July 2023 claim periods, a business will need to submit reference period details on ROS for May, June and July 2022. Claims relating to these periods will automatically be assessed based on the reduced 30% energy cost threshold and will be paid based on the increased level of relief available.
Source: TBESS Guidelines (revenue.ie)
If you require assistance, please reach out to our expert team at McMahon and Co. Accountants.
☎️ 045 533100
💻 info@mcmahonandco.ie
📍 9 – 10 Academy Street, Kildare Town, Co. Kildare R51 NW42