Happy New Year - think it's my first post of teh year - now what have I been up too.... ah yes pulling my hair out at clients who say - "yep will get onto my tax info week after next if that's OK....?"
Anyway - really easy question for those who know the answer.
I have recently taken on a small company client where the directors are Husband and Wife, each have been working in the business for 5 years or so and take small salary big dividend. I am in the process of doing their 2012 tax returns.
In Feb-12 Wife had a baby but previous advisor didn't claim any SMP on the grounds that "the company has not paid any NI in the past therefore you can't claim SMP" (that's what previous advisors email to my client stated back in December 2011 when they asked him about it)
I must confess I have never had one of my sole or husband and wife director companies have a baby (well the wife that is not the company!) and so hadn't thought about it.
I have looked at the guidance and read threads on here and it seems that he may have been wrong however some HMRC guidance seems to back up what he has said
If they could have claimed can they claim now? For this and last tax year? (Wife has been receiving £624/month every month this year but I guess that could be reclassified as SMP plus a top up? - If they can claim it is quite a big number and potentially they have missed out.
Any help from those better versed in SMP that I would be very very welcome!
Not a January SA deadline question I know so apologies for diverting away from the main theme of the month!
- Bookkeeping Rate of Pay 2,658 38
- How to claim relief under a Double Taxation Agreement 276 6
- Tax implication on superannuation 177 3
- What's the Barmiest Reason A Client gave you for going? 2,546 25
- GRNI - Normal Balance 63 2
- Entrepreneurs Relief, and then new company 202 3
- Portuguese Resident having a UK Limited Company 217 8
- Tax Fines - HMRC 810 13
- Taxi Drivers Cost of Sale 87 2
- Is Xero payroll as rubbish as I suspect it is? 1,294 24
- VAT - Check on clients business 907 37
- Second Limited Company 113 1
- Digital tax accounts - what do we expect? 490 10
- Private doctors - Ltd company vs partnership 290 8
- Probate services 367 7
- Annual to At Least Quarterly 489 20
- trading losses allowable? 757 14
- Post AAT? 686 3
- Small amount of untaxed royalties for someone outside SA 136 1
- Treatment of valuation fee for IHT. 194 2