Hello, my name is XXXXX XXXXX it is my pleasure to assist you with your question today. Is the company insolvent?
what happens next?
In what sense?
sorry I thought that you had handed this across to one of your associates, please continue.
Oh no, it is only me that deals with this
Even if you did not have a formal/written contract of employment, one could certainly be implied in place, assuming you were treated as an employee and the relationship was one of employer/employee. So the lack of a written contract would not necessarily prejudice your claim.
The fact that you were claiming dividends would not necessarily prejudice your claim because it is possible to be an employee-shareholder and still have the same entitlements as employees, it just means that you would be taxed separately on your dividends because this would be treated as capital gains, rather than as a salary.
Of course you would have to be honest about your earnings from the company and if you drew any dividends in the past you would need to mention these in the form in section 9.
tax was paid on all monies received at the time. In your opinion does the delay in claiming cause any issues/
Delay in claiming from the Insolvency Office? When did you make the claim?
RP 1 sent 7th April 2014 as a result of information that, as a Director, a claim could not be made, recent information dictates otherwise.
No that would not affect your claim, there is no time limit to claim from the NIF
Great news Ben. One last question. Section 1 part 4 of the RP3 asks for a written memorandum. Can't recollect one. By ticking the 'no' box for all of section 1 will it cause rejection of claim?
It would not automatically reject the claim – if there isn’t one there simply isn’t one and you must state that but it would then be a matter of establishing through other available evidence what your role was and what you may be entitled to.
That's great Ben. What a pleasure to deal with a true professional. Take care and thanks for your help. By the way how do I print the Q & A's?
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thanks for that Ben. I need to send my rating.
You are most welcome, all the best