Temporary Business Energy Support Scheme (TBESS) Update
The claim period for the Temporary Business Energy Support Scheme (TBESS) ended on Monday, 31 July. Qualifying businesses have until 30 September 2023 to make claims for the calendar months from September 2022 to July 2023. Claims cannot be made after this date.
The TBESS was introduced to support businesses with increases in their electricity or natural gas (energy) costs.
A tax compliant business can make a claim under the scheme if it carries on a trade or profession and has experienced an increase of 30% or more in its electricity and/or natural gas average unit price.
A number of enhancements have been made to the Temporary Business Energy Support Scheme (TBESS).
The enhancements are as follows:
the extension of the scheme to 31 July 2023
an increase in the monthly limit on payments for claim periods from 1 March 2023 onwards:
the €10,000 monthly limit on payments under the scheme has been increased to €15,000 per qualifying business
the €30,000 monthly limit has been increased to €45,000 per qualifying business in cases where the qualifying business operates across multiple locations.
a reduction of the energy costs threshold from 50% to 30%, with effect from 1 September 2022
an increase in the Temporary Business Energy Payment (TBEP) amount from 40% to 50% of a business’ eligible costs from 1 March 2023
an extension of the time limit for all claims to 30 September 2023.
Please contact Padraig if you would like us to help your business claim for TBESS or if you have any questions.
Email: pambrose@nkc.ie
Phone: 01 6754382