covid-19

Navigating your way through COVID-19 related issues has become a challenge as it starts to affect all of our lives and the responses from the government leaves a lot of questions unanswered. To re-assure you that we are looking after your/our clients’ interests we decided to post regularly about what was happening on the COVID-19 and have put together the most frequently asked questions from professional service contractors.

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Question 1

What Expenses can I claim when working from home?

Where do you work mainly? This is the question we ask our clients – now that they are working from home, any expense which is required for you to word remotely can be allocated to offset your tax. We will be putting together an expense guide in our next blog, however examples of this we have seen our clients claiming are:

  • Office furniture
  • Computer equipment
  • Telephone and broadband costs
  • Bills allowance

Financial

The financial supports available to professional contractors are explained in our blog “Immediate Financial Support for Contractors ” –   Click Here

A summary of the main supports includes:

I’m Still Working However My Days Have Been Reduced, What Financial Support Am I Entitled To?

Short Time Work Support applies to individuals who work 3 days or less having previously been full time.  Click Here for more information and how to apply.

My Contract Has Been Terminated, How Do I Apply For COVID-19 Pandemic Unemployment Payment?

The quickest and easiest way to apply for the emergency €350 weekly payment is through your mywelfare.ie account. Alternatively, you can complete a  1 page application form. 

Are Directors Of An Umbrella Company Entitlement To Pandemic Payment Support?

Yes, any contractor operating through an Umbrella Company can personally apply for the Pandemic Unemployment Payment.

What Is The Wage Subsidy Scheme?

The Temporary COVID-19 Wage Subsidy Scheme pays employers a salary subsidy capped at 70% of previous average weekly take home pay of an employee/director of that company; a maximum payment of €410 per week applies.  The scheme is expected to last for 12 weeks and provides the payment of income support to employers in respect of eligible employees where the employer’s business activities have experienced significant negative disruption due to the COVID-19.

I’m A Director And Shareholder Of My Own Personal Limited Company, Can I Qualify For Wage Subsidy Payments?

Yes, provided you satisfy the criteria set out by Revenue – Click Here. If you are unsure whether your company will qualify, please get in touch with the Fenero Team and we will advise.

I Operate Through An Umbrella Company; Can The Umbrella Company Apply For The Wage Subsidy Scheme On My Behalf?

No; unfortunately, an Umbrella Company cannot process Wage Subsidy payments.

Due to the nature of how Umbrella Companies are set up with multiple contractors working on various projects, they will not satisfy the criteria set out by Revenue to qualify for the scheme. The reason being, although a contractor may be impacted the other contractors in the company may not, which makes the umbrella company unable to apply for the scheme.

For umbrella company contractors whose contract was terminated or paused as a result of COVID-19, we recommend they apply for the COVID-19 Unemployment Weekly Payment of €350.

My Client Has Terminated My Contract, Will I Receive Notice Period Payment?

Yes, the length of notice periods is dictated by the contract in place. Payment will be calculated in line with the termination clause.

Will I Receive Payment For Invoices Already Raised?

Yes, you should receive payment as normal for work already completed.

Fenero Support

Our Customer Experience team is on hand to help answer any query related to COVID-19.

If you have any queries on the above, please do not hesitate to get in touch with me directly, or with the team on hello@fenero.ie or 01-6877400.

Take care and stay safe from all the team at Fenero.

If you think you will be affected by the Corona Virus and need some assistance please reach out to us at contact@peakaccountingsolutions.ie or visit our website at www.peakaccountingsolutions.ie.

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