Some notes about applying NOW and using illustrations to explain compensation
After further study of the Ministerial regulation NOW (Noodmaatregel Overbrugging Werkgelegenheid), we have made a number of illustrations of what the result with the application of NOW could be.
Before we go into these illustrations, two more comments about the NOW:
1) Under the currently announced regulation, the NOW will apply as a measure for the months of March to July 2020. Companies that want to invoke this can do this for a consecutive 3 months. Please note, this does not mean that you will receive 5 months of support for all months from March to July 2020. BUT ONLY FOR 3 MONTHS. So you will have to make a choice for which three consecutive months.
2) Because of the procedure of “determining this subsidy”, you must submit an auditor’s statement afterwards, which explains the decrease in turnover in the 3 consecutive months by you. We as A&T Partners cannot issue this statement. To do this, you must appoint an auditor to issue this statement for you. Normally, quite high costs are associated with an auditor’s statement. You need consider 500 to 1500 euros per statement. We will ask our tax adviser association RB to ask the government questions about this. Since many small businesses cannot afford these costs.
The illustrations are solely intended for the clients of A&T Partners and therefore will not be shown here.
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Published on: 2 April 2020