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Can I claim SMP & take a dividend from my company?

(3 Posts)
LizbetRobin Thu 04-Apr-13 15:19:33

I run a business with my husband & sister. I want to go on maternity leave and claim my SMP. If I were to work 2 days (or even 10 mins!) a week in my business then I can't claim SMP. Inevitably though I will get phone calls and called upon as it's my business. I wondered can I take a dividend instead. I have tried googling & talking to my accountant & they're looking in to it hut I wondered if any of you savvy parents new! I think it's ok... as long as I'm not 'working', which I won't be, but there is always the responsibility of running your own business in the background, & that's where I'm hoping a small dividend will come in.

1stMrsFrugal Thu 04-Apr-13 19:30:37

You are allowed "keeping in touch" days i.e. you are allowed to work during your mat leave without it affecting your SMP and you are able to be paid for these days too. More info here its only 10 days but surely you can be clever with your time recording and also with the rate at which you are paid for these days?

lels99 Thu 04-Apr-13 19:43:02

I cant see why not. You are able to receive dividends from other companies without it affecting your SMP.

The other shareholders will presumably get dividends? So that would mean you would have to sign a dividend waiver and my understanding is that HMRC are taking a stricter approach on these.

Would be interested to hear what your accounts think though.

Can you draw anything down from your capital account?

Definitely take you keeping in touch days, but if you are an owner guessing your salary isnt much more than £7450?

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