It may not be a very festive season in partial lockdown but if your business has taken a bad hit, there’s one reason for cheer.
Despite talk of removing coronavirus support several months ago, the Dutch government has now rolled out more help for entrepreneurs.
Businesses such as hospitality and entertainment, which must currently shut at 5pm, may be taking huge losses on their normal income but they can claim a reimbursement of fixed costs allowance, known as the TVL.
This is intended for small and medium enterprises, with a loss of more than 30% on regular turnover and provides a 100% refund of fixed costs. You need to have at least €3,000 in fixed costs each month and to be working from another site (rather than a home office), so it’s not for the very smallest firms.
But for larger SMEs, the government will reimburse up to €250,000 in fixed costs, and the subsidy for the last quarter of 2021 is now available. The business or entrepreneur can have up to 250 employees, must be founded before June 30, 2020, and be able to show that turnover is 30% or more down based on the last quarter of 2019 or the first one of 2020. The government website (in Dutch) gives more information on the best calculation for your firm, and how to apply.
Companies with a drop in turnover of at least 20% are also eligible for the temporary emergency bridging measure for sustained employment (NOW), to help pay up to 85% of staffing costs, including for people on flexible contracts. The reference month for your wage bill is September 2021.
All businesses can also benefit from a tax extension until the end of December 2021. With this exemption, there is no interest levied on any these debts until July 1 next year.
Our advice is to look carefully for the right subsidy. There’s less support than at the beginning of the coronavirus pandemic – and, of course, some people may already have changed career, or found a profitable new line of business for the corona months still ahead.
For help with postponing your tax, contact firstname.lastname@example.org