The Irish Hairdressing Council has cautiously welcomed the supports announced today’s (23/07/2020) after the Government’s cabinet meeting.
In particular it welcomes the extension of Temporary Wage Subsidy Scheme and its expansion to include new hires which will help struggling hairdressing businesses to not only maintain current employment levels but increase their own levels.
Speaking after today’s announcement, Council President Sean Taaffe stated that “While the expansion of supports will help our industry begin the road to recovery, there needs to be a timely rollout of these supports in order to prevent further closures and sustain our Industry”
Other measures included in the July Stimulus include a mixture of grants, loans and tax changes for businesses – as well as supports for workers.
WAGE SUBSIDY SCHEME
The Temporary Wage Subsidy Scheme will be renamed The Employment Wage Subsidy Scheme and continue to be available until 31 March 2021. It will be focused as a payroll subsidy support rather than an income replacement measure. It will be expanded to include new hires, with further details on this to be released soon.
The previously-announced Restart Grant, which was designed to cover the cost of reopening a business following the Covid-19 shutdown, is to be expanded to offer more money to a greater number of businesses.
The grant will rise from a maximum of €4,000 to €25,000. If you have already received your Restart Grant, you will be eligible for a top-up from your local authority.
Commercial Rates Waiver:
With limited exceptions, all businesses will be granted a waiver of commercial rates for the six months to end-September 2020. This will be delivered via the Department of Housing and your local authority.
Standard Rate VAT Reduction
There is a 2% cut in the standard VAT rate, from 23% to 21%, which is applicable to any retail products sold. This measure will only last for a limited period of 6 months.