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I will use Employed (explain the situation in cover letter i.e. you are the director and shareholder of the company)1)QUestion B26 says: 'The applicant should indicate whether they consider themselves to be employed or self-employed:'
I am not sure what to select here.I am employed through my OWN LTD company and I am also one of the director of it.Hence do I become employed or am I self employed as it is my own business?
12 month Payslip,12month bank statements and Dividend vouchers are sufficient. Plus use the letter from accountant to corroborate earnings (salary + dividend)2)To Prove previous earnings I am submitting my 12 month Payslip,12month bank statements and Dividend vouchers.
I am also planning to get a letter from my accountant corroborating my evidence.Are they enough? or do I have submit my company details,invoices etc.I don't mind submitting them,but I don't want to confuse the CW with too many information.
You should be alright, I am gonna provide my own mobile no. as an employer, in addition to my bank's and accountant's.3)P9 in page 42 says'Please provide full contact details that will allow each of the documents provided to be verified if necessary. Please also provide here any additional information or explanation of the documentation sent, that will assist us in our consideration of the earnings being claimed. If more space is required, please provide the required information in a covering letter.'
To this I am entering the full address and contact number of my company,bank(HSBC) and my accountant.Will that suffice.
If home office call my company tel number it will be still me/wife who answers it!!.
Mention this in the cover letter and provide the bank statements to match......4) For the maintenance of funds requirement there is no start and end dates given in the form.I want them to consider between two specific dates(totalling to 3 months) in the last 4 months.Will it suffice if I just mention in the dates in the
covering letter or should I make a note in the form as well.
This is incorrect. You will be self-employed.:
1)QUestion B26 says: 'The applicant should indicate whether they consider themselves to be employed or self-employed:'
I am not sure what to select here.I am employed through my OWN LTD company and I am also one of the director of it.Hence do I become employed or am I self employed as it is my own business?
I will use Employed (explain the situation in cover letter i.e. you are the director and shareholder of the company
The above mentioned documents should suffice if you are self-employed. however if you show yourself as employed, then HO might question the validity of that claim based on the letter from your accountant. Accountant letter is only valid in case you are self-employed. If you are employed, then a letter from your employer should do the trick (in this case it would be SELF)2)To Prove previous earnings I am submitting my 12 month Payslip,12month bank statements and Dividend vouchers.
I am also planning to get a letter from my accountant corroborating my evidence.Are they enough? or do I have submit my company details,invoices etc.I don't mind submitting them,but I don't want to confuse the CW with too many information.
12 month Payslip,12month bank statements and Dividend vouchers are sufficient. Plus use the letter from accountant to corroborate earnings (salary + dividend)
Will appreciate response from someone in the similar situation.
I guess you will have to read the guidelines properly. You cannot specify any 3 month period in the last 4 months. Instead the home office will only consider the last 3 month.4) For the maintenance of funds requirement there is no start and end dates given in the form.I want them to consider between two specific dates(totalling to 3 months) in the last 4 months.Will it suffice if I just mention in the dates in the
covering letter or should I make a note in the form as well.
Mention this in the cover letter and provide the bank statements to match......
That clearly explains that the maintenance fund is something that you will have to have atleast for 3 months prior to the date of application.In order to qualify for entry clearance or leave to remain under Tier 1, an applicant must show that he/she has enough money to support himself/herself.
Applicants in UK seeking further leave to remain must have atleast £800 of personal savings which must have been held for atleast three months prior to the date of application!
Right Let me explain here.I am claiming my previous earning period between 06-jan-2008 to 06-jan-2009.Out of that I am using the period from 06-oct-2008 to 06-jan-2009 period for my maintenance funds requirement.The guidance says that 'Applicants in UK seeking further leave to remain must have atleast £800 of personal savings which must have been held for atleast three months prior to the date of application!MyHSMPApplication wrote:This is incorrect. You will be self-employed.:
1)QUestion B26 says: 'The applicant should indicate whether they consider themselves to be employed or self-employed:'
I am not sure what to select here.I am employed through my OWN LTD company and I am also one of the director of it.Hence do I become employed or am I self employed as it is my own business?
I will use Employed (explain the situation in cover letter i.e. you are the director and shareholder of the company
The above mentioned documents should suffice if you are self-employed. however if you show yourself as employed, then HO might question the validity of that claim based on the letter from your accountant. Accountant letter is only valid in case you are self-employed. If you are employed, then a letter from your employer should do the trick (in this case it would be SELF)
Thanks.I just checked with my accountant and they say from their point of view my employment status is 'EMPLOYED' as I am employed by my company(even though i own 50% of it).So I a guess I am gonna stick myself as Employed
2)To Prove previous earnings I am submitting my 12 month Payslip,12month bank statements and Dividend vouchers.
I am also planning to get a letter from my accountant corroborating my evidence.Are they enough? or do I have submit my company details,invoices etc.I don't mind submitting them,but I don't want to confuse the CW with too many information.
12 month Payslip,12month bank statements and Dividend vouchers are sufficient. Plus use the letter from accountant to corroborate earnings (salary + dividend)
Will appreciate response from someone in the similar situation.
I guess you will have to read the guidelines properly. You cannot specify any 3 month period in the last 4 months. Instead the home office will only consider the last 3 month.4) For the maintenance of funds requirement there is no start and end dates given in the form.I want them to consider between two specific dates(totalling to 3 months) in the last 4 months.Will it suffice if I just mention in the dates in the
covering letter or should I make a note in the form as well.
Mention this in the cover letter and provide the bank statements to match......
The guidelines says
That clearly explains that the maintenance fund is something that you will have to have atleast for 3 months prior to the date of application.In order to qualify for entry clearance or leave to remain under Tier 1, an applicant must show that he/she has enough money to support himself/herself.
Applicants in UK seeking further leave to remain must have atleast £800 of personal savings which must have been held for atleast three months prior to the date of application!
Cheers
PG
Declaring dividends by the company to its shareholders(in this case me or you) is entirely the company's prerogative.There is no hard and fast rule that it has to be monthly/quarterly.For argument sake you can even declare dividends daily(if u have the dosh),but its a norm that professional companies declare dividends in a reasonable gap, that being yearly/half yearly/quarterly.MyHSMPApplication wrote:In the same context let me ask you a question,
Do you take monthly dividends of Quarterly / annual dividends?
I take monthly dividends, and for 2 months I have clubbed my salary and dividends payment as a single bank transaction.
Do you reckon this is going to be an issue?
I remember reading somewhere that this might be an issue but please clarify
Cheers
PG
Can I ask the reason, why is that a self-employed and not in an employment?Quote:
1)QUestion B26 says: 'The applicant should indicate whether they consider themselves to be employed or self-employed:'
I am not sure what to select here.I am employed through my OWN LTD company and I am also one of the director of it.Hence do I become employed or am I self employed as it is my own business?
I will use Employed (explain the situation in cover letter i.e. you are the director and shareholder of the company
This is incorrect. You will be self-employed.
Because you own the company that employs you.nnj10 wrote:MyHSMPApplication wrote:
Can I ask the reason, why is that a self-employed and not in an employment?Quote:
1)QUestion B26 says: 'The applicant should indicate whether they consider themselves to be employed or self-employed:'
I am not sure what to select here.I am employed through my OWN LTD company and I am also one of the director of it.Hence do I become employed or am I self employed as it is my own business?
I will use Employed (explain the situation in cover letter i.e. you are the director and shareholder of the company
This is incorrect. You will be self-employed.
MyHSMPApplication wrote:
Quote:
1)QUestion B26 says: 'The applicant should indicate whether they consider themselves to be employed or self-employed:'
I am not sure what to select here.I am employed through my OWN LTD company and I am also one of the director of it.Hence do I become employed or am I self employed as it is my own business?
Quote:
I will use Employed (explain the situation in cover letter i.e. you are the director and shareholder of the company
Quote:
This is incorrect. You will be self-employed.
Quote:
Can I ask the reason, why is that a self-employed and not in an employment?
Quote:
Because you own the company that employs you.
So what is your point?nnj10 wrote:republique wrote:MyHSMPApplication wrote:
Quote:
1)QUestion B26 says: 'The applicant should indicate whether they consider themselves to be employed or self-employed:'
I am not sure what to select here.I am employed through my OWN LTD company and I am also one of the director of it.Hence do I become employed or am I self employed as it is my own business?
Quote:
I will use Employed (explain the situation in cover letter i.e. you are the director and shareholder of the company
Quote:
This is incorrect. You will be self-employed.
Quote:
Can I ask the reason, why is that a self-employed and not in an employment?
Quote:
Because you own the company that employs you.
Please go to this link:
http://www.direct.gov.uk/en/MoneyTaxAnd ... DG_4015975
If one is self employed then he/she has to register as self-employed with HMRC, but as the link says if you are operating within PAYE structure (In this case through a company in which you are controlling shareholder/director), then you are employed (through your own company).
Your own company can still afford to pay you a salary (and offer holidays), even if your company's regular cash generating main contract runs out(provided there is money in business).
Look if you are going to counter everyone else advice then why ask.nnj10 wrote:What I am saying is, even though someone is contracting through own LTD co, he/she is still employed with his/her own company (if operating within PAYE system), and for T1(G), you can claim to be "Employed", as opposed to "Self Employed".
If you are applying for FLR, you'd better to look the guide of border agency, not HMRC.nakvis wrote:The Eployment or Self-Employment will define the amount and class of National Insurance Contributions you are paying to the Govt. If you are Employee, then you will pay Class 1 (or 1A) NI and Self-Emploed people will pay Class 2 and 4 contributions.
If you know which class of NI you are paying you can decide whether you are employed or Self-Employment.
You can go to HMRC Website and seach for additional informaiton regarding Employee or Self-Employed....
It is right that in UK, HMRC is the department which defines the terms Employee or Self-Employed. But unfortunately HMRC is not the department to deal with application of Tier 1.nakvis wrote:In UK, HMRC is the department which defines the terms Employee or Self-Employed.
Home office guidence does not define the terms Employee or Self-Employment.
Look if you are going to counter everyone else advice then why ask.nnj10 wrote:
What I am saying is, even though someone is contracting through own LTD co, he/she is still employed with his/her own company (if operating within PAYE system), and for T1(G), you can claim to be "Employed", as opposed to "Self Employed".
I think nakvis and nnj10 are correct in what they are saying.As told in my previous post I have checked with my accountant and they think I am employed and not self-employed.I am applying in a couple of days, will keep u peeps postednakvis wrote:I have not heard, but there is every possibilty that the home office case worker can call HMRC to confirm the Employment status i.e. wheather Employee or Self Employment based on the NI number we give in the application.
When inquired, if there is a difference between the HMRC records and Our declaration in the Application, I am sure that the application will be rejected straight away.
Guys, please note that I am trying to write the information I am aware of, thats all. I am not trying to argue or counter someone else's comments.
Also I dont see any problem when someone declares as an Employee (When paying Class 1 or 1A NI's which is much higher than Class 2 for Self-Emploment), receives a call from Home Office for verification, we can justify and I dont see any wrong in that.
By the way, if you are covered by JR, then I think your FLR(HSMP) will be considered based on economic activity, not necessarily your monthly salaries.nakvis wrote: Also I dont see any problem when someone declares as an Employee (When paying Class 1 or 1A NI's which is much higher than Class 2 for Self-Emploment), receives a call from Home Office for verification, we can justify and I dont see any wrong in that.
As far as evidence of earning is concerned, you are claiming points for your personal earnings and you are not required to declare source of your company's earnings. The reason being, you don't want to confuse, the case worker with multiple documents. In my opinion the following documents should suffice.If you own your limited company and you are 100% shareholder, and even if you are "employed" by your own limited company, I feel it is appropriate to declare yourself as self employed rathar than employed.
Then in that case, you need to provide company bank statements, Invoices to the clients, and client contract documents as evidences.