LR or SET(O)?

[ahj]

Hi folks,

I will highly appreciate your advice on situation below:

- I applied for initial Tier1 G in 2011 (Employed + part Self employed). For self employment period shown to HO was accounts closing on 28 Feb (Net profit around £10k) as I was applying in March 2011. However, when the accounts were closed at end of tax period 6th April 2011 the profit dropped to around £3k due to client not happy with services received and resulted in refund of the payment received prior to 28th Feb. Tax was then paid to hmrc on the £3k profit earned on year ending April 2011, NI contributions were paid accordingly. Please note net profit for the same year shown to HO was £10 while declared to hmrc was £3, for the reason explained earlier. Will this impact on my application for ilr, I am eligible for both LR & Set(o) next year?

-In the first year of initial Tier1 G leave my earnings dropped from the required level of earnings as I could not find any business through self employment and was only employed. However I kept paying NI contributions as I was looking for business, but eventually I had to close self employment at the end of the year. Will this impact on my application for ilr?
Please note since second year of initial Tier1 G leave for last threes I am employed and meeting the earning requirements for last three years, and extention of Tier1 G was granted in 2013.

Also, what would be the best rout for to apply for ilr in this situation LR or Set (o)?

Senior members or members who have been through situation please advice/comment.

Many thanks,

[CR001]

It does not matter whether you apply LR or Set(O), HO will still check your income and tax records with HMRC etc.

[ahj]

Thank you cr001 for your reply.

Is it mandatory to keep the required level of earning throughout 5 years of Tier1 G? as in one year of Tier 1 G I was unable to meet the required level of earnings.

your reply will be much appreciated.