Qualifying businesses will receive a one-time grant payment, determined based on the Commercial Rates bill they received in 2023. It's important to note that while this grant assists with rising business costs, it does not waive Commercial Rates obligations; businesses are still required to fulfill their Commercial Rates payments as usual.
The primary aim of the grant is to alleviate some of the financial burden faced by businesses due to increased costs. However, it is not intended to fully cover all additional expenses such as wage hikes.
The grant amount varies depending on the 2023 Commercial Rates bill:
- Businesses with a bill of less than €10,000 will receive a grant equal to 50% of their 2023 Commercial Rates bill.
- Those with bills ranging from €10,000 to €30,000 will receive a fixed grant of €5,000.
- Businesses with bills exceeding €30,000 are ineligible for the ICOB grant.
To qualify for the grant, businesses must meet specific criteria outlined by DETE:
- Operating as a commercially trading business from a rateable property.
- Active trading status as of February 1, 2024, with an intention to continue trading for at least three months after verifying information.
- Providing valid bank details.
- Being up to date with rates payments or on an approved payment plan.
- Tax compliance with a valid Tax Registration Number (TRN).
Fingal County Council retains the right to reclaim any incorrectly awarded grants, including those based on erroneous information or false declarations.
Businesses will soon be able to apply for the grant through an online platform currently under development. Detailed instructions will be provided by Fingal County Council, including registration and verification procedures, expected to be available by mid-March.
The deadline for businesses to confirm eligibility and submit verification details is May 1, 2024.
For registration, applicants need to provide their property ID (LA Id), which can be found on the right side of their rates bill. Multiple properties under one customer number cannot be submitted for registration in Borgo Accounting's system. Businesses are advised to check forthcoming correspondence and online FAQs for further guidance before applying.
“Their culture of innovation, technology and customer service is at the core of what has helped our business to scale.”
Robert Whelan - Rockwell
Financial Management
“Their seamless onboarding process and expertise in Xero made the transition smooth and effortless, allowing me to focus on my business with confidence.”
Padraig Sweeney - Sweeney's D3
Client Company Name
