Bridging Assistance Phase 3 Plus and Restart Assistance Plus: Support for Solo Self-Employed and Companies

1. Introduction

Following Bridging Assistance III, Restart Assistance Plus offers additional support for self-employed individuals and companies affected by the economic impact of the coronavirus crisis. Restart Assistance Plus is intended to provide financial aid, particularly for solo self-employed individuals and certain corporations, to mitigate the economic shock of the crisis.

2. Who is eligible to apply?

- Solo self-employed individuals

- Corporations

- Cooperatives

3. Eligibility Requirements

- Solo self-employed individuals must derive at least 51% of their income from their self-employed activity.

- Corporations and cooperatives must meet certain requirements, such as a limited number of employees and a minimum number of working hours.

4. Amount of Restart Assistance Plus

- Operating cost allowance of €1,500 per month (maximum €4,500 per quarter for solo self-employed and one-person companies, up to €6,000 per month or a maximum of €18,000 for multi-person corporations and cooperatives).

- The operating cost allowance is based on a reference turnover and is only granted if turnover has decreased by 60% or more.

5. Extension of Restart Assistance in the Fourth Quarter of 2021

- Restart Assistance Plus has been extended until 31.03.2022.

- Capped at a total of €9,000 for the entire second half of 2021.

6. Application and Repayment

- Application possible without a third-party auditor.

- Advance payments are made upfront, with potential repayments if turnover is higher.

- Final settlement by 31.12.2022, any repayments must be made by 30.09.2022.

7. Tax Liability

- Restart Assistance Plus is subject to income and trade tax, but not to value-added tax.

Conclusion

Restart Assistance Plus is an important measure to support solo self-employed individuals and small businesses affected by the economic impact of the coronavirus crisis. The operating cost allowance helps alleviate financial bottlenecks and provides support for restarting.