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!
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- Pattern for CTA 102 2
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- Related Parties Note 977 12
- Desperately seeking Susan, Sam or anyone with any other name 1,127
- Experience with Islamic investor following Sharia-compliant rules? 585
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- S464A Charge to tax: conferring benefit & BIK 294
- Interest on Loan to a Company 195
- Bank interest in 'near' facility recall situation 179
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- ACCA continuity of practice arrangement needed 161
- Residency 91 day rule 150