Closing down company & reclaiming statutory maternity from HMRC / entrepreneurs rel..

[Untouchable1]

Hi,

Bit of advice needed from the community.

I am in the process of closing down my company and am keen to do this before the gov makes any changes to the entrepreneurs relief.

I also need to reclaim statutory maternity from HMRC, which I understand is done through the company.

How will this play out?

Will I need to wait for HMCR to pay the statutory maternity pay back to the company before I close it down.

If so, does this mean I risk losing out on entrepreneurs relief if the government changes the relief rate in the meantime.

Do forum members have any visibility of when the entrepreneurs relief changes would kick in.

My account is not being very helpful.....

Please let me know if any of the above needs clarification

Thanks,
Untouchable1

[WTFH]

How long ago did you take maternity leave?
Have you filled in an EPS in time?

[Untouchable1]

How long ago did you take maternity leave?
Have you filled in an EPS in time?

I don't know, but I hope that my accountant has taken care of this. I believe that the claim has been made.

[WordIsBond]

If you are concerned about time running out, don't let maternity pay jeopardise it. That's nothing compared to the ER savings.

[Paralytic]

Do forum members have any visibility of when the entrepreneurs relief changes would kick in.

Do you think we should tell him?

[technobabble]

ER

I don't think you get Entrepreneurs relief when you close down a business only on sale. I think what you are referring to is known as a negligible value claim. I've been away for 12 years but that is my recollection...

[WTFH]

I don't know, but I hope that my accountant has taken care of this. I believe that the claim has been made.

If you don’t know how many weeks/months/years ago that pregnancy was a factor, then the answer is no, you can’t clam it.

[cojak]

I don't think you get Entrepreneurs relief when you close down a business only on sale. I think what you are referring to is known as a negligible value claim. I've been away for 12 years but that is my recollection...

I would advise confirming your recollection before posting because you’re wrong.

[SueEllen]

It takes many months to claim any maternity payments of HMRC. In the case of limited companies the money is credited to your company's NI account then if you are still in credit at the end of the tax year in April, you need to be proactive and phone them up to ask for the credit. If you don't the money is lost. HMRC prefer you to reassign the credit to your company's corporation tax or VAT account then write you a cheque.

[SueEllen]

Oh and you need to do the multiple phone calls not leave it to your accountant.