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!
- Charity accounting 141 5
- Accounting for Film Rights 47 2
- Lunatics in charge of the asylum - Bluestone 577 1
- Limited Company expenses 74 4
- client issues 748 5
- Is an ex-gratia payment to a company taxable 89 4
- Why .... 269 5
- Freehold Property Depreciation 246 10
- UK taxation of income from property in Cyprus 72 1
- Leaving the Flat Rate Scheme 66 2
- Pylon compensation - what am I missing? 131 2
- Claiming VAT without invoice 67 2
- Sell business after leaving country 439 13
- Tiwan contractor 127 3
- Rental Income 76 2
- Auto Enrolment specialist service provider 155 2
- Auto enrolement and PAYE 115 1
- VAT - E-commerce site (middle man only) - like Not on the high street 60 1
- Two questions re client meetings and TR Fees 601 10
- Lack of new PAYE Coding Notices issued 304 4
- Possible Partnership? 564
- Tax and accounting treatment on long lease granted from freehold 489
- New Fangled Penalties 366
- Clubs and Taxable Income 302
- Purchase of property freehold - capitalisation of costs 281
- Loans to other companies 226
- Closed PAYE schemes and auto enrolment 218
- Lenovo – Superfish & Komodia – is your PC vulnerable 189
- Outsource Data Entry 183
- Moving away from CCH software 159