CIS & CORONAVIRUS: HOW WE ARE ENSURING CONTINUATION OF PAYMENTS
Apr 02, 2020
In recent weeks we have worked hard to ensure we have everything in place to facilitate business as usual for Crest Plus clients during the Coronavirus pandemic.
We appreciate that many self-employed and Umbrella contractors – those in construction, education, and healthcare, for example – are playing a vital role in helping our country get through these difficult times.
Earlier this week, the Secretary of State for Business, Energy and Industrial Strategy wrote an open letter to the construction industry, stating: “Our country and our economy needs all our support. And the construction industry has answered the call to action.”
As specialists in the Construction Industry Scheme (CIS) and with thousands of workers relying on us for payment, we are committed to playing our part by ensuring all construction contractors get paid accurately and on time.
We know how important it is for our agency partners to be able to get the right people in the right place at the right time. This is particularly important at present as end hirers face potential skills gaps if workers contract Coronavirus or have to self-isolate after coming into contact with someone with Coronavirus.
Despite the need for our teams to work remotely, we have robust business continuity measures in place to ensure that service operates as normal. Contractors are being onboarded swiftly (as usual). We also know how important it is to process payments quickly and accurately, which is why we’re particularly pleased to report that our investment in technology to ensure this service operates as efficiently as ever is paying dividends during these unusual times.
As well as our business continuity measures to support those who are continuing to work on-site, we have kept a close eye on measures announced by Government to support people whose livelihoods are affected by the pandemic.
We have been in contact with all of our CIS contractors to let them know that they are able to access a Government grant, should their work circumstances change. The grant is part of a package called the Self-employed Income Support Scheme (SEISS) and it allows CIS workers to claim a taxable grant worth 80% of trading profits up to a maximum of £2,500 per month for the next three months. It’s available to those with self-employed trading profits of less than £50,000 earning more than half of their income from self-employment.
The scheme doesn’t affect a CIS worker’s ability to trade – they can continue to earn and still be eligible. However, to qualify, workers must have submitted their personal tax return for 2018/19 which was due in January. If you are a CIS contractor and still haven’t submitted your 2018/19 tax return, please get in touch to use our straight-forward tax return service.
If you are an agency or a contractor requiring more advice and support around the Construction Industry Scheme, please get in touch with our specialist team. Our phone lines are open as normal and we will be only too pleased to help.