Only last month, Ireland was close to full employment with a 4.8 percent jobless rate and an estimated 2.36m people at work at the date of writing this article.
Fast forward a month and it now faces the elimination of many jobs that were won back from the financial crisis. It is estimated that 250,000 to 350,000 people will find themselves out of work as a result of the COVID outbreak.
Here at Peak, we want our clients to be well prepared for what they can claim and be reassured that they have chosen an Accountancy Service provider than WILL do everything in its power to look after its clients and support them during this difficult time.
For many professional contractors, work from home as become the new norm. For the unlucky contractors however whose income will be affected by the virus, immediate financial support is available from the Department of Employment Affairs and Social Protection.
There are many scenarios that the government has put together to understand if your affected by the COVID and can claim.
| Scenario | Contract terminated due to the downturn in economic activity caused by COVID-19 pandemic |
| Support | COVID-19 Pandemic Unemployment Payment |
| How much | €350 per week for 12 weeks |
| Application Process | Complete 1-page application form |
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| Scenario | The Contractor requested to stay at home and cannot work remotely due to COVID-19 pandemic |
| Support | COVID-19 Pandemic Unemployment Payment |
| How much | €350 per week for 12 weeks |
| Application Process | Complete 1-page application form |
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| Scenario | A Contractor who is not diagnosed with COVID-19 but self-isolate |
| Support | Enhanced Illness Benefit |
| How much | €350 per week for 2 weeks |
| Application Process | Request your doctor to send a medical certificate to Social Welfare. You must then complete the Illness Benefit Form (Form IB 1). See guidance here. |
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| Scenario | The Contractor put onto short-time working due to a reduction in business activity related to COVID-19 |
| Support | Short Time Work Support |
| How much | €203 prorated based on the number of days worked in a week |
| Application Process | Through MyWelfare.ie or Intreo Centre or Social Welfare Branch Office |
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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