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ReStart Grant questions, 18+ months on

  • 23-03-2022 2:31pm
    #1
    MrCostington
    Registered Users, Registered Users 2 Posts: 1,288 ✭✭✭


    Hi, back in Summer 2020 I got the ReStart Grant and the 2 additional ones from the DCC. I have spent very little of it so far (I think just on my accounting fees) so have had the bulk of it ring-fenced, sitting in an account since then. I've been kinda afarid to spend it in case I use it for something I'm not supposed to. With that in mind:

    a) has anyone been audited in any way or asked to account for what they spent it on? I am not worried about being checked for my eligibility for the grant, but for what I spend it on.

    b) can I use it to pay rent? I actually asked the DCC at the time and got this back "The grant is a contribution towards the cost of re-opening or keeping a business operational and re-connecting with employees and customers. The grant could be used to defray ongoing fixed costs, e.g. utilities, insurance, refurbishment or for measures to ensure employee and customer safety."

    c) I have a new business idea that will require a prototype to be created, I'll need to pay a company to do that - can the grant be used for this?

    d) finally, we don't have to repay this, correct?

    Thanks!



Comments

  • #2
    Gloomtastic!
    Registered Users, Registered Users 2 Posts: 8,830 ✭✭✭Gloomtastic!


    From what I can see, the grant was issued as a means of support for small businesses during the various lockdowns we suffered and the money could be used for any purpose. There are examples of what it can be used for but they are just examples. I can see no mention of repayment anywhere or of any auditing - they, whoever they are, just don't have the resources.

    Take it and run!



  • #3
    MrCostington
    Registered Users, Registered Users 2 Posts: 1,288 ✭✭✭MrCostington


    I hope that's correct, thanks.

    I did find this press report:

    https://www.irishexaminer.com/news/arid-40747380.html

    "An independent audit of the Covid restart grants will now be completed early in the new year after the C&AG raised concerns."

    But I get the impression this is an internal govt thing?



  • #4
    lomb
    Registered Users, Registered Users 2 Posts: 6,017 ✭✭✭lomb


    Main thing is to pay income tax on it unless it was used to buy expensive capital items in which case you wouldn't claim capital allowances in that



  • #5
    lomb
    Registered Users, Registered Users 2 Posts: 6,017 ✭✭✭lomb


    So in your case you'd have to hand back half or whatever through tax system



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