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The Start Your Own Business Relief (SURE) lets long-term unemployed people who start a qualifying new business claim a two-year income tax exemption on profits of up to €40,000 a year. It is designed to make the leap into self-employment less financially risky.
What is SURE?
SURE is an income tax relief aimed at people who have been out of work for a long time and decide to start their own business. It reduces the income tax on the profits of the new business for the first two years, so more of what you earn stays with you while the business gets off the ground.
Who can claim it?
- You have been unemployed and receiving a qualifying social welfare payment (such as Jobseeker's Benefit or Jobseeker's Allowance) for at least 12 months.
- You start a genuinely new business — not one you bought or took over from someone else.
- You are the owner and are actively involved in running the business.
How much is the relief worth?
SURE exempts the first €40,000 of your profits from income tax each year for two years (which can span up to three tax years, depending on when you start). Only income tax is covered — PRSI and USC are still payable on your profits.
How to claim it
You claim SURE on your annual income tax return (Form 11) for the relevant years. There is no pre-approval required, but you should keep evidence of your unemployment status and that the business is genuinely new, in case Revenue asks.
Important things to know
- The relief applies to income tax only — PRSI and USC still apply to your profits.
- The business must be new, and you must be actively involved in running it.
- The relief can apply whether you operate as a sole trader or run the business through a company — the structure matters, so get advice.
- The scheme has been extended a number of times, so confirm it is still open before you rely on it.
Frequently asked questions
What is the SURE relief?
It is a two-year income tax exemption on up to €40,000 of annual profits for long-term unemployed people who start a new business.
Who qualifies for SURE?
People who have been unemployed and receiving a qualifying social welfare payment for at least 12 months and who start a genuinely new business.
Can I claim SURE if I set up a limited company?
In many cases yes — the relief can apply whether you operate as a sole trader or through a company you own. The right structure depends on your circumstances, so get advice first.
Is SURE still available?
The scheme has been extended several times over the years. Confirm the current position with Revenue or your accountant before you rely on it.
Starting a business after unemployment is a big step, and SURE can make it much more affordable. If you are thinking of starting out, talk to Bradán Accountants — we will advise on the best structure and make sure you claim every relief you are entitled to.
Sources
- Revenue.ie – Start Your Own Business (SURE) Relief
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