The support package for the self-employed announced by the Chancellor Rishi Sunak on Wednesday March 25, is a welcome relief for the thousands of self-employed workers in the construction industry, according to the Federation of Master Builders (FMB).
In the latest step to protect individuals and businesses, the Chancellor has set out plans that will see the self-employed receive up to £2,500 per month in grants for at least three months.
This brings parity with the Coronavirus Job Retention Scheme, recently announced by the Chancellor, where the government committed to pay up to £2,500 each month in wages of employed workers who are furloughed during the outbreak.
Those self-employed people who are eligible for the new scheme will be able to apply directly to the HMRC for the taxable grant, by using a simple online form, with the cash being paid directly into people’s bank account.
The scheme will be open to those with a trading profit of less than £50,000 in 2018-19, or an average trading profit of less than £50,000 from 2016-17, 2017-18 and 2018-19.
To qualify, more than half of their income in these periods must come from self-employment.
Brian Berry, chief executive of the FMB, said: “Construction workers across the country will now be taking a collective sigh of relief knowing they will now be protected in the same way that employees will be if they lose work due to COVID-19.
“I am delighted that the Chancellor has heeded our calls to be generous with his offer to the self-employed, who make up almost 40% of those working in the construction industry.
“Building companies will now also be able to close sites to protect workers and public health without having to worry about the losses faced by self-employed workers on those sites. We now urge the Treasury and HMRC to ensure that all support packages are up and running as soon as physically possible.”
