Can we cancel LTD company?? On second job

[ImmigrantUK]

Hello,

I wanted to ask as I am on tier 2 general. I did a supplementary job on same sector but with LTD company. Whilst I was researching i found out on one site that says tier 2 gen holder cannot do ltd company. If thats so, how can I legally undo this so i wont get penalize as this is an honest mistake and I wanted to correct it. Do I need to stop my ltd company asap?? Do I need to inform UKBA asap and tell my mistake or should I just cancel my LTD company asap and just do a supplementary job 20hrs/wk as PAYE. Continue?? I Wanted to go for holiday outside UK but dilemma if UKBA will stop me from coming back.

Many thanks

[Lucapooka]

Business ownership or directorship is not related to any type of immigration status. You can be a director or owner of any type of business but, under your present visa, you can be an employee of that business.

[ImmigrantUK]

Business ownership or directorship is not related to any type of immigration status. You can be a director or owner of any type of business but, under your present visa, you can be an employee of that business.

Thank you Lucapooka,


Thus this mean I need to stop my LTD company as I am the director and sole trader as well as employee?? I need to know If I broke any of my visa condition under Tier 2 gen and I would cooperate to UKBA if any penalty may occur. My main concern is my visa extension in 2016 as I am afraid they might not grant me base on this ground.

Many thanks Lucapooka


Den

[Frontier Mole]

By definition if you are the sole director of a Ltd company or the sole or majority share holder you are self employed if you conduct any business activity.
If you own a non operating ltd company then that is a different matter.
By your other posts it appears you have traded the company therefore you have breached your tier 2 visa conditions.
If UKVI establish that fact you are in danger of having your visa curtailed.

[ImmigrantUK]

By definition if you are the sole director of a Ltd company or the sole or majority share holder you are self employed if you conduct any business activity.
If you own a non operating ltd company then that is a different matter.
By your other posts it appears you have traded the company therefore you have breached your tier 2 visa conditions.
If UKVI establish that fact you are in danger of having your visa curtailed.

Thank you Frontier,



I am currently working for my sponsor and havent left, the second or supplementary job is the one that I, on the other hand is doing and it is in the same sector.

It is just an honest mistake that I didnt know if or you cannot set up a LTD company (for that second supplementary job). Its not in the UKBA site sir. I was doing same job. Its been 8 months and I stop doing that second job ever since I encounter this issue.

Can you please guide me ont what can I do, do I need a solicitor to inform UKBA? I am in desperate situation as I need an extension of my visa this 2016.

Many thanks

[Frontier Mole]

While I applaud your honest approach and your intent to declare your error if you approach an immigration professional I think they would advise you not to inform UKVI.
Your extension of visa in 2016 is a long way off and there is every possibility that your oversight will not feature when they do their checks.

[ImmigrantUK]

Thank you so much for the info sir,

What I need to do is to close asap my LTD company and business bank account?

I have ltd company but working thru agency whilst full time work with my sponsor.


Can I undo my ltd company before and pay all the tax and NI off all those work that Ive done thru my LTD company? Is it better not to take holiday outside the UK then this year as it may hinder my chance of coming back to UK?

Many thanks