Third-party statement and NOW subsidy

When is a third-party statement needed in connection with your NOW subsidy?

NOW-subsidy > €25.000

Have you received an advance payment of more than €20,000? Then you need a third-party statement to establish your loss of turnover and wage costs. What exactly does a third-party statement entail? And what are the requirements of the NOW scheme? In this article we provide you with the latest information to ensure a confident submission of your third-party statement for NOW-1, NOW-2, and NOW-3.

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What is the NOW scheme?

The NOW scheme (consisting of NOW-1, NOW-2, and NOW-3) enables you to continue paying your staff during the coronary crisis. The scheme provides an allowance for wage costs for businesses whose turnover fell by at least 20% due to the ‘corona crisis’. 

What is a third-party statement?

A third-party statement is a declaration from an administrative office, a consultant bookkeeper, an accountant, or trade organisation stating the amount of your loss of turnover.

This third-party statement is mandatory:

  • for any advance between € 20,000 and €100,000
  • and any definitive subsidy between € 25,000 and € 125,000 (regardless of the amount of the advance payment).

NOW-1

You have until 31 October 2021 (previously 23 March 2021) to submit a third-party statement for the final calculation of the first application period for NOW. If you do not submit a declaration, you will not receive a subsidy and will have to repay your advance. 

NOW-2

The window for applications for the NOW-2 was temporarily postponed from 15 November 2020 to 15 April 2021 due to the high workload at the UWV. From 15 April 2021 onwards, you can submit a third-party statement for the final calculation for the second NOW application period. You have 24 weeks in which to do this.

The requirements for the statements for NOW-2 have not yet been published, so we don’t yet know whether anything will change in comparison to the NOW-1 requirements, but rest assured ffiqs is keeping a close eye on this. 

NOW-3

The application period for the NOW-3 subsidies (submission of a third-party statement) has been divided into 3:

3.1: period October – December 2020: submission 16 November 2020 – 27 December 2020

3.2: period January to March 2021: submission 15 February 2021 to 14 March 2021

3.3: period April to June 2021: submission 17 May 2021 to 13 June 2021

On the Dutch Government website you can find the conditions you must satisfy to be eligible for NOW-3.

Are you taking advantage of several NOW schemes? If so, different requirements may apply to each. We can advise you on this and help you to keep your administration well-organised.

Below is an overview of the most important information on the NOW schemes:
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How ffiqs can help you with your third-party statement

Our financial specialists are experts in compliance and audit and are specialised in subsidies and grant accounting. We can help you with the provision of a third-party statement. We advise and support you in calculating the loss of turnover and determining the wage costs. In addition, we take care of the entire process from start to finish; from preparatory work and drafting the declaration to submitting it on time. This distinguishes us from other financial professionals and accountants who focus primarily on verifying data rather than preparing the statement. Result, quality, and continuity; that is what we offer!

How ffiqs can help you with your third-party statement

Our financial specialists are experts in compliance and audit and are specialised in subsidies and grant accounting. We can help you with the provision of a third-party statement. We advise and support you in calculating the loss of turnover and determining the wage costs. In addition, we take care of the entire process from start to finish; from preparatory work and drafting the declaration to submitting it on time. This distinguishes us from other financial professionals and accountants who focus primarily on verifying data rather than preparing the statement. Result, quality, and continuity; that is what we offer!

Would you like to understand more about third-party statements?

Would you like to know more about drawing up a third-party statement for your organisation? For legal or financial accountability questions, please contact our specialists on 088-8381381 or send an email to info@ffiqs.nl. We will be happy to help you.