Self employed now working reduced hours

C

Cotter24

Registered User
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Can somebody please advise me if I'm entitled to any social welfare benefit based on my current situation:
I'm a sole trader handyman earning around €25K per year Gross.
I also have 5 investment properties with mortgages. The current rent covers the mortgage repayments and also there is a bit left over to live on as I only earn about €25K from the sole trader work.
For the last couple of weeks the handyman work I'm receiving is becoming less and less. I still do a few jobs a week but it's nothing like it was.
I understand there is some sort of payment for people on reduced hours but I'm wondering does that apply to me given that I also have the 5 investment properties?
Also, if the work completely dries up can I avail of the Covid19 unemployment payment of €350 or will I not be allowed it because I have the investment properties?
 
Cotter24 said:
Can somebody please advise me if I'm entitled to any social welfare benefit based on my current situation:
I'm a sole trader handyman earning around €25K per year Gross.
I also have 5 investment properties with mortgages. The current rent covers the mortgage repayments and also there is a bit left over to live on as I only earn about €25K from the sole trader work.
For the last couple of weeks the handyman work I'm receiving is becoming less and less. I still do a few jobs a week but it's nothing like it was.
I understand there is some sort of payment for people on reduced hours but I'm wondering does that apply to me given that I also have the 5 investment properties?
Also, if the work completely dries up can I avail of the Covid19 unemployment payment of €350 or will I not be allowed it because I have the investment properties?
Click to expand...

The Covid19 unemployment payment appears to be a form of a universal basic income; no PRSI contribution requirement and not means tested
 
Cotter24 said:
Can somebody please advise me if I'm entitled to any social welfare benefit based on my current situation:
I'm a sole trader handyman earning around €25K per year Gross.
I also have 5 investment properties with mortgages. The current rent covers the mortgage repayments and also there is a bit left over to live on as I only earn about €25K from the sole trader work.
For the last couple of weeks the handyman work I'm receiving is becoming less and less. I still do a few jobs a week but it's nothing like it was.
I understand there is some sort of payment for people on reduced hours but I'm wondering does that apply to me given that I also have the 5 investment properties?
Also, if the work completely dries up can I avail of the Covid19 unemployment payment of €350 or will I not be allowed it because I have the investment properties?
Click to expand...
Similar query here https://www.askaboutmoney.com/threads/am-i-eligible-for-emergency-€203-paymnet-from-govt.216632/

As long as you are paying the appropriate rate of PRSI, you may well qualify.
 
Cotter24 said:
Thanks. I'm just not sure because I still work a couple of days doing the handyman stuff, albeit less than before, plus I have the rental income although most of that goes towards the mortgage.
Click to expand...
Hi. I don't think the rental income is relevant. I believe that the prsi class will be used to check eligibility in the long run. A more detailed application is required before the 6 weeks is up.
 
Cotter24 said:
I also have 5 investment properties with mortgages. The current rent covers the mortgage repayments and also there is a bit left over to live on as I only earn about €25K from the sole trader work.
Click to expand...

You are very exposed with that many properties, would you not consider selling some.
 
Actually you probably won't be able to sell right now with all the restrictions in place. It sure is tough for people in your position.
 
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