Increased Cost of Business Grant Scheme applications now open

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Qualifying businesses can now apply for the ICOB Scheme to alleviate the impact of rising commercial rates

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Read More: CSNA ICOB Increased Cost of Business Scheme

The Increased Cost of Business (ICOB) Scheme aims to provide financial relief to qualifying businesses affected by increased commercial rates. The scheme aims to help mitigate the impact of increased commercial rates. 

Local authorities have begun sending out letters that contain the login details for the ICOB Grant Scheme registration website, according to the CSNA.

The deadline for applications is 1 May 2024.

Eligibility Criteria

• Commercially trading businesses operating from a rateable property
• Business must have been trading as of 1 February 2024, with an intention to continue for at least three months
• Rates account must be up to date, with compliance regarding tax obligations and possessing a valid Tax Registration Number

Grant Details

• For businesses with a 2023 Commercial Rate bill under €10,000, the ICOB grant amounts to 50% of the bill
• Businesses with a 2023 Commercial Rate bill between €10,000 and €30,000 qualify for a fixed grant of €5,000

Application Process

• Access the registration website through the provided link: ICOB Registration Website
• Follow the prompts to register with MyCoCo using the provided customer number and pin, as detailed in the letter from your local council
• Required information includes legal business name, property address (including Eircode), email address, contact number, Tax Registration Number, and recent bank statement
• Depending on grant value, a Tax Clearance Certificate may be requested.
• Self-declaration regarding property vacancy status and disclosure of the number of employees and business type are also required

Important Notes

• Applications must be submitted through the provided link
• For assistance with the application process, contact your local authority
• The deadline for applications is 1st May 2024
• Payments are anticipated to commence in April

Ensure compliance with the outlined criteria and follow the application process diligently to access the grant.

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Read More: CSNA ICOB Increased Cost of Business Scheme

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