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by scorpio_besal
Wed Nov 28, 2012 10:30 am
Forum: UK Tier 1 (General) Visas
Topic: PEO Sheffield Attended on 13th Nov 2012
Replies: 18
Views: 2812
India

Thanks Mayurc for the quick reply.
by scorpio_besal
Wed Nov 28, 2012 10:20 am
Forum: UK Tier 1 (General) Visas
Topic: PEO Sheffield Attended on 13th Nov 2012
Replies: 18
Views: 2812
India

Cheers Mayurc for your reply, could you please tell me which PEO did you go to for your visa extension.

And one last question, Did you have any clients pay you by online transfer (faster payment) from your self employment income.
by scorpio_besal
Tue Nov 27, 2012 10:25 pm
Forum: UK Tier 1 (General) Visas
Topic: PEO Sheffield Attended on 13th Nov 2012
Replies: 18
Views: 2812
India

Thanks Rakesh Raj, The questions were to "Mayurc".

Rakesh but I like to know if you would like, how many clients did you have at the time of visa extension and do you know about how many of them were contacted by UKBA, if they were contacted by mail or by call.
by scorpio_besal
Tue Nov 27, 2012 1:23 pm
Forum: UK Tier 1 (General) Visas
Topic: PEO Sheffield Attended on 13th Nov 2012
Replies: 18
Views: 2812
India

Thank you Mayurc for sharing your experience.

Would you please let me know which PEO you had been to, and weather you showed your self employment income as Sole Trader or LTD company structure.
by scorpio_besal
Fri Nov 16, 2012 7:30 pm
Forum: UK Tier 1 (General) Visas
Topic: ACCOUNTANT REGISTRATION DOCUMENT?
Replies: 13
Views: 1735
India

To make your life simple, ask your accountant to include his ACCA reg. number on the letter which he would give you.

That would suffice UKBA.
by scorpio_besal
Thu Nov 15, 2012 7:26 pm
Forum: UK Tier 1 (General) Visas
Topic: PEO Sheffield Attended on 13th Nov 2012
Replies: 18
Views: 2812
India

CW would contact some of your clients to confirm that you have worked for them, its a part of their verification checks. After the verification checks are done, and once you clear it, they will send you the passport with the visa on it. The time frame would depend on how many clients you have and ho...
by scorpio_besal
Thu Nov 08, 2012 9:59 pm
Forum: UK Tier 1 (General) Visas
Topic: Tier 1 General Extension -- Experts Advise Required
Replies: 13
Views: 1947
India

You have to ask your accountant for this, but if you need an example, then go to the following link

http://office.microsoft.com/en-gb/templ ... 15484.aspx
by scorpio_besal
Thu Nov 08, 2012 9:31 pm
Forum: UK Tier 1 (General) Visas
Topic: Tier 1 General Extension -- Experts Advise Required
Replies: 13
Views: 1947
India

If you ask your accountant, he will make it for you.
by scorpio_besal
Thu Nov 08, 2012 9:29 pm
Forum: UK Tier 1 (General) Visas
Topic: Tier 1 General Extension -- Experts Advise Required
Replies: 13
Views: 1947
India

Income statement (also referred to as profit and loss statement (P&L), revenue statement, statement of financial performance, earnings statement, operating statement or statement of operations) is a financial statement that indicates how the revenue (money received from the sale of products and ...
by scorpio_besal
Thu Nov 08, 2012 9:17 pm
Forum: UK Tier 1 (General) Visas
Topic: Tier 1 General Extension -- Experts Advise Required
Replies: 13
Views: 1947
India

Profit and Loss A/C
by scorpio_besal
Thu Nov 08, 2012 7:35 pm
Forum: UK Tier 1 (General) Visas
Topic: Tier 1 General Extension -- Experts Advise Required
Replies: 13
Views: 1947
India

Profit and Loss A/C is missing from your list, keep it with other documents, It can be asked by the CW.
by scorpio_besal
Tue Nov 06, 2012 10:53 pm
Forum: UK Tier 1 (General) Visas
Topic: Self Employed doubt on Tax deduction
Replies: 8
Views: 1311
India

Mate, its simple, Like for an employed person gross salary (taxable income) is considered to claim the points likewise for self employed its total income - expenses to get the taxable income (Net Profit) to claim the points.
by scorpio_besal
Tue Nov 06, 2012 9:57 pm
Forum: UK Tier 1 (General) Visas
Topic: Advice on extension applicatiob
Replies: 3
Views: 517
India

28 days is not a rule but an advice, but sometimes caseworkers would take it as a rule as it is mentioned in the guideline, but its all upto the CW, and thats why your friends have got their visa extended from the date of expiry of their current visa.
by scorpio_besal
Tue Nov 06, 2012 9:52 pm
Forum: UK Tier 1 (General) Visas
Topic: Self Employed doubt on Tax deduction
Replies: 8
Views: 1311
India

2. Net Profit = Income - Expenses
by scorpio_besal
Sat Oct 27, 2012 11:58 pm
Forum: UK Tier 1 (General) Visas
Topic: NET PROFIT CALCULATION FOR SOLE TRADERS(AFTER 1 APRIL 2012)
Replies: 80
Views: 14415
India

Congratulations to marynwokedi and anynet
by scorpio_besal
Wed Sep 12, 2012 10:02 am
Forum: UK Tier 1 (General) Visas
Topic: NET PROFIT CALCULATION FOR SOLE TRADERS(AFTER 1 APRIL 2012)
Replies: 80
Views: 14415
India

Shahmir, Thank you for sharing your findings.
You have done a lot of research to gather all that information, hats off to you.

:-)
by scorpio_besal
Tue Sep 11, 2012 11:23 pm
Forum: UK Tier 1 (General) Visas
Topic: NET PROFIT CALCULATION FOR SOLE TRADERS(AFTER 1 APRIL 2012)
Replies: 80
Views: 14415
India

Buddy, the UKBA guide lines have changed several times since 2010. The new guide line which has been issued in Aug 2012, has different set of requirements, and the para 93 is what we need to focus on, which says net profit after tax is what they are checking for self employed in sole traders capacit...
by scorpio_besal
Tue Sep 11, 2012 11:18 pm
Forum: UK Tier 1 (General) Visas
Topic: NET PROFIT CALCULATION FOR SOLE TRADERS(AFTER 1 APRIL 2012)
Replies: 80
Views: 14415
India

Would you know, if this person has applied before or after 01 Aug 2012.?
by scorpio_besal
Tue Sep 11, 2012 11:00 pm
Forum: UK Tier 1 (General) Visas
Topic: NET PROFIT CALCULATION FOR SOLE TRADERS(AFTER 1 APRIL 2012)
Replies: 80
Views: 14415
India

Well, its not about being tax expert, its more about tier 1 immigration expert, who knows about UKBA rules. In my honest opinion, I feel that the net income after tax is what UKBA takes into account at the time of calculation, thats what UKBA guide lines say. However UKBA's logic is very un fair for...
by scorpio_besal
Tue Sep 11, 2012 9:39 pm
Forum: UK Tier 1 (General) Visas
Topic: NET PROFIT CALCULATION FOR SOLE TRADERS(AFTER 1 APRIL 2012)
Replies: 80
Views: 14415
India

If net profit is before tax then why does UKBA say on point number 93, that they consider NET after tax.


So confusing
by scorpio_besal
Mon Sep 10, 2012 8:53 pm
Forum: UK Tier 1 (General) Visas
Topic: NET PROFIT CALCULATION FOR SOLE TRADERS(AFTER 1 APRIL 2012)
Replies: 80
Views: 14415
India

has anyone made an application post 1st August with sole-trader income.
by scorpio_besal
Fri Sep 07, 2012 5:58 am
Forum: UK Tier 1 (General) Visas
Topic: NET PROFIT CALCULATION FOR SOLE TRADERS(AFTER 1 APRIL 2012)
Replies: 80
Views: 14415
India

Hope the below mentioned example would help you understand better, Say your Gross Income is 16000 and expenses are around 1000K If you are under the impression that your NET PROFIT = 16K-1K=15K before tax, then you are wrong. For UKBA the calculation is completely different for sole traders. Home of...
by scorpio_besal
Thu Sep 06, 2012 11:16 pm
Forum: UK Tier 1 (General) Visas
Topic: NET PROFIT CALCULATION FOR SOLE TRADERS(AFTER 1 APRIL 2012)
Replies: 80
Views: 14415
India

Buddy, I checked with my accountant today, he mentioned that Net Profit for sole trader which UKBA would consider is as following: Net Profit = Income - (Expenses + Tax) Even the new ukba guide line printed on Aug 2012, in point 93 which refers to the same thing. http://www.ukba.homeoffice.gov.uk/si...
by scorpio_besal
Wed Sep 05, 2012 9:50 pm
Forum: UK Tier 1 (General) Visas
Topic: NET PROFIT CALCULATION FOR SOLE TRADERS(AFTER 1 APRIL 2012)
Replies: 80
Views: 14415
India

NET PROFIT CALCULATION FOR SOLE TRADERS(AFTER 1 APRIL 2012)

According to policy guidance printed on April and later on Aug 2012, (POINT NUMBER 93) this is the part applicable for sole trader. http://www.ukba.homeoffice.gov.uk/sitecontent/applicationforms/pbs/t1-general-guidance.pdf If an applicant is self-employed and has chosen to retain the profits within ...
by scorpio_besal
Wed Sep 05, 2012 9:12 pm
Forum: UK Tier 1 (General) Visas
Topic: Tax filing by accountant and Tier 1 extension( Important )
Replies: 17
Views: 1765
India

Buddy, I am sorry if you are annoyed by my questions, I was only asking what do you do as a sole trader.? Ignore it , if you dont wish to answer.