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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4948
Experience:  FCCA FCMA CGMA ACIS
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I have problem with SMP. In this March I applied for

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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.

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.

Post to clear my question list.

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Customer: replied 7 months ago.
Thank you for your help and quick response. You have just confirmed what I thought. Thank again

Delighted to have been of assistance.

Thank you for your support.