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But both of the options are not clear, i.e.Salaried employees with dividend payments
If you are paid through a combination of salary and dividends, the combination of documents outlined above will only be enough where both the salary and the dividend appear on both types of document provided.
Self-employed earnings within a business or company structure
If you have worked in a self-employed capacity through your own company structure and have chosen not to take regular salary payments but to retain those earnings within the company
Sushil-ACCA wrote:Transitional extension is risky choice
it will depend on their judgement
so it is better
1.Employee
2.Entreprenuer ( COMPANY / sole trader )
3.employee / entrepreneur
you need a good accountant either Chartered accountant / ACCA
who have done this work as this is a new area of work
Faraz,farazfastian wrote:Hi Kelvin,
Me either didn't get the point why Santosh is going for Transitional Arranegements while he can still score 75 points. But i'm still not sure about the classfication of past earnings.
Like in my case, i'm doing contracting and i'm the single employee(director) of my limited company. I'm withdrawing 1k per month and rest i'm taking as quarterly dividends so which category you think i falls in? (please check my first response in this thread)
Basically I'm still confused which category should i apply under and what documents i need to show them.
Thanks
Hi farazfastian,farazfastian wrote:Hi Kelvin,
Me either didn't get the point why Santosh is going for Transitional Arranegements while he can still score 75 points. But i'm still not sure about the classfication of past earnings.
Like in my case, i'm doing contracting and i'm the single employee(director) of my limited company. I'm withdrawing 1k per month and rest i'm taking as quarterly dividends so which category you think i falls in? (please check my first response in this thread)
Basically I'm still confused which category should i apply under and what documents i need to show them.
Thanks
As quoted above, i can't apply under first case as i'm having my own company and if i go for second option it's still confusing as i'm having my own business but i do take monthly salary 1k/month and rest as dividend and what it says that you've chosen not to take regular salary.Salaried employees with dividend payments
If you are paid through a combination of salary and dividends, the combination of documents outlined above will only be enough where both the salary and the dividend appear on both types of document provided.
Self-employed earnings within a business or company structure
If you have worked in a self-employed capacity through your own company structure and have chosen not to take regular salary payments but to retain those earnings within the company
It seems to me, your earnings includes:farazfastian wrote:Kelvin,
Thanks for the reply, i understand what you've mentioned regarding Transitional Arrangements but again i'm not even thinking about TA because you need to look in to it if you can't score 75 points by yourself. Currently i'm scoring 100 points under Tier-1, the only problem i'm having is how to prove my earnings. In short, if you can't score 75 points then only you go towards TA as there's no criteria of points there it's just you either get WP or prove self employment.
Now coming back to prove my earnings, the thing that baffles me is in choosing the earning category.
As quoted above, i can't apply under first case as i'm having my own company and if i go for second option it's still confusing as i'm having my own business but i do take monthly salary 1k/month and rest as dividend and what it says that you've chosen not to take regular salary.Salaried employees with dividend payments
If you are paid through a combination of salary and dividends, the combination of documents outlined above will only be enough where both the salary and the dividend appear on both types of document provided.
Self-employed earnings within a business or company structure
If you have worked in a self-employed capacity through your own company structure and have chosen not to take regular salary payments but to retain those earnings within the company
My question is simple, i'm doing contracting form past 12 months via my own limited company and taking salary+dividend being a director and sole share holder, so in order to prove my earnings for Tier-1 should i present my business or present myself and whatever i choose what kind of documents i need to show then?
Many Thanks