Past Earnings - LTD COMPANY DIRECTOR

[MikkySoft]

Hi All,

I am a Ltd company director. I worked as contractor with other companiesy using my Ltd company. I want to apply for ILR from Tier1 General (5 years completed). My question are:

1. How do I claim for past earnings as a Director of a Ltd company? What form of earnings can I claim for and it will be acceptable?
I suggested dividends but the amount is about £30,000 after tax. Is this ok to claim as dividends?

2. The earnings accepted, is it earning before Tax(Gross) or after Tax?(Net)

I have not been claiming salaries. I am the only Director and share holder of the company.

What other options are left for me?
I did all the works as a contractor and all payslips and payments were in my name. Monies that accrued from the contract work were paid partly into my Company Account and partly into my Personal account.

Please help.

[canon123]

1. Dividends are fine

2. Gross dividends - After deducting corp tax

[MikkySoft]

[quote="canon123"]1. Dividends are fine

2. Gross dividends - After deducting corp tax[/quote


Thank you Canon123,

My reall worry is, is it ok to claim dividend at once? Like end of the year when my account is done by my accountants?
As I have not been claiming any dividends in the past and I am due to PEO next week.

Please ADMIN/MODERATOR or SENIOR member, can any one help with useful suggestions.

If it is dividends vouchers, Can I back date them or write one bulk voucher? How does this work please I need your help and advice.

[canon123]

yes you can

On the voucher your accountant will mention the period.

[MikkySoft]

Hi All,

Just to give you feedback about my experience.
I went for PEO yesterday and I was successful in my ILR.

IMPORTANT: Please I will advice you to ensure you follow the instructions in the form guidance. It states all earnings to be claimed must be supported by 2 evidences from different sources. Payslips from your company and the bank statements will be ok but please, ensure yoiu adhere to this rule. that was what really saved me. Ensure the 2 are not from the same company.
I use the dividends from my LTD company and it was acceptable.

Hi All,

I am a Ltd company director. I worked as contractor with other companiesy using my Ltd company. I want to apply for ILR from Tier1 General (5 years completed). My question are:

1. How do I claim for past earnings as a Director of a Ltd company? What form of earnings can I claim for and it will be acceptable?
I suggested dividends but the amount is about £30,000 after tax. Is this ok to claim as dividends?

2. The earnings accepted, is it earning before Tax(Gross) or after Tax?(Net)

I have not been claiming salaries. I am the only Director and share holder of the company.

What other options are left for me?
I did all the works as a contractor and all payslips and payments were in my name. Monies that accrued from the contract work were paid partly into my Company Account and partly into my Personal account.

Please help.