What i meant to say here is an applicant can claim ONLY the Gross amount shown in his payslip. And in case if he opts for the salary sacrifice(SS) then in the Gross amount will be decreased even in the palyslip (atleast this is what i saw in my case). And in such case even if your actually salary b...

As I said earlier on as soon soon the directors or any officer of the company realised they are not making any profit and cannot pay their bills they have to stop trading and legally apply for insolvancy. I think you are trying to add something to the legislation that is simply not there. Simply yo...

Who ever wheezed this scheme by using the share capital was unfortunately not familiar a law called company's Act which governs all UK based company. I don't wish to give the impression of defending the scheme but surely no one is talking about a reduction of share capital. So why are you thinking ...

you cannot use Capital to pay salary Why not? If the company has agreed to pay salary of so much, and has insufficient income to fund that, the capital in the company will get eroded, because the company will be making a loss. Dividend after tax will be obviously most tax efficient way after chargi...

And why whould he needs £30,000 share capital? He can start a company with £1? I thought that, and then realised that the scheme is to turn capital into salary! No, not tax efficient at all, but it looks like a wheeze to assist in visa renewal. I agree. This will not be tax efficient at all. Plus...

You dont need two directors to open a limited company.

And why whould he needs £30,000 share capital? He can start a company with £1?

it is basic rule of control that same person can not act as well as approve it. u need an accountant to certify it . Hi Sushil, Thanks for the reply. Does your answer is general or specfic to home office requirement? For tax or legal purposes there is no need for an accountant to certify my income ...

accoutant os good but not expert in tax liability if u form a company tax liability will be 21 % and in sole trader NI will be extra depende on yr income It depends which accountant you used. There are some non-qualified people calling themself 'accountants' but they are not more than a book-keeper...