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bigduckontax, Accountant
Category: Tax
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I have problem with SMP. In this March I applied for

Resolved Question:

Hello,I have problem with SMP. In this March I applied for statutory maternity payment in advance and I got it on the beginning of April. My tax year was finished on the end of April but maternity pay started to pay in May so in the new tax year. My question is that should I include this payment in advance in previous tax year or in actual one when the SMP started? I am so sorry if that question is silly but I have never had this kind of thing in my accounts.
Submitted: 1 month ago.
Category: Tax
Expert:  bigduckontax replied 1 month ago.

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.

The theoretical answer is that you should account for it in the period in which it is due, but not when it was paid. However, such payments are invariably put into the later tax year and unless they push you into higher rates tax I would be inclined to let sleeping dogs lie.

I do hope that you have found my reply of assistance.

Expert:  bigduckontax replied 1 month ago.

Post to clear my question list.

bigduckontax and other Tax Specialists are ready to help you
Customer: replied 1 month ago.
Thank you for your help and quick response. You have just confirmed what I thought. Thank again
Expert:  bigduckontax replied 1 month ago.

Delighted to have been of assistance.

Thank you for your support.