Contractor earnings for Tier 1 general to ILR

[OSHIOS]

Hi All

Wondered if anyone can help with this? I intend to apply for ILR by the end of the year under the Tier 1 general route. I work as a contractor (earning via LTD company)

My 15 month earning period will be 30th August 2014 – 31st October 2015 (Then 12 consecutive months would be 1st Nov. 2014 – 31st October)

Here’s the grey area for me:

My ltd company financial year end is every 31st of October; so the company declared a profit of all its earnings between October 2013 – 31st October 2014, which I left in the company as a reserve into the new financial year (2014/2015) which I took in December 2014 as dividend ( which is within my 12 consecutive earning period).

So My question is: even though the reserve/profit was earned by the company in 2013/2014 financial year, will home office have any objection to me taking a profit that was made by the LTD company outside of my 12 consecutive month.

Thanks in advance and I hope I was able to explain my self clearly

[Yash001]

Absolutely no problem with this.. HMRC treats your 2014 dividend as income of 2014..this is common practice among contractors..speak to your accountant on this and he will advise you on the same

[OSHIOS]

Thank you Yosh.

Does it matter the ratio of salary/dividend