Company account, Tier 1 extension and my accountant

[PinkFloyd]

Hello All,

Taking a clue from the members of this forum, I asked my accountant to prepare the company account for the period the I am claiming points for in my previous earning section. (1 May 2008 - 30 April 2009 for application date 25 june 2009). He said that the best he can do is use the company account that has been prepared for the company's tax year (1st March 2008 - 28 Feb 2009) and he would provide a annexure for the remaining months (1 Mar 2009 - 30 April 2009). Now this has a potential pitfall that the two accounts combined will have dates beyond the 15 months period and there is no way from these documents to prove what portion of money was earned during the 12 months period. The Alternate he suggests is to have my company tax period changed to the one I want the account to be made for.

People who got there company account for extension purpose, Did they have to go through similiar predicament? Please do share your experience. I am sure my accountant is taking me for a ride.

Also please let me know if you got your Company account on the your company letter head and had it stamped too? Or a plain A4 printout is good enough with director's signature sticking to the general theme that all accounts document are boring

Thanks

[fahadz1]

Hello All,

Taking a clue from the members of this forum, I asked my accountant to prepare the company account for the period the I am claiming points for in my previous earning section. (1 May 2008 - 30 April 2009 for application date 25 june 2009). He said that the best he can do is use the company account that has been prepared for the company's tax year (1st March 2008 - 28 Feb 2009) and he would provide a annexure for the remaining months (1 Mar 2009 - 30 April 2009). Now this has a potential pitfall that the two accounts combined will have dates beyond the 15 months period and there is no way from these documents to prove what portion of money was earned during the 12 months period. The Alternate he suggests is to have my company tax period changed to the one I want the account to be made for.

People who got there company account for extension purpose, Did they have to go through similiar predicament? Please do share your experience. I am sure my accountant is taking me for a ride.

Also please let me know if you got your Company account on the your company letter head and had it stamped too? Or a plain A4 printout is good enough with director's signature sticking to the general theme that all accounts document are boring

Thanks

my accountant will going to prepare in commign days. My company have letterhead and stamp as well. you will get v cheap in your home country mate !!!

[PinkFloyd]

Thanks Fahazd1... For the people who have done it successfully. I reword so it is easier on the eyes and will hopefully solicit some replies

1. Can company accounts be prepared/submitted that does not fall in company tax year period?

2. Do these company account have to on companies letter-head or they can be printed on A4 sheets with just the director's signature.

Please do post your comments.

Cheers!

[adnanub]

u can claim the interim dividend with out the presentation of the accounts. for that u need ur dividend voucher and bank statement showing that amount. the date u receive the amount in ur bank will be treated as the date of earning.

for company account sand no need to print the accounts on the company letter head as the profit and loss account is mostly on A4 paper and this is the practice.

hope that you will get ur extension.

[ssoct98@hotmail.com]

adnan ub is right.There is no need of company accounts to put dividend.

[PinkFloyd]

Thanks for your replies...
But dividends and pay slips are the very problem why I am going through the other route of producing company accounts and accountant letter. Please see this thread for my exact predicament
http://www.immigrationboards.com/viewtopic.php?t=39778

Hence the reason for swimming against the tide.

[fahadz1]

adnan ub is right.There is no need of company accounts to put dividend.

is accountant prepares the divided voucher ? is the voucher is only a4 plain paper or what ?
i never saw divided voucher !

[adnanub]

u can order it online. thr r companies who print the specimn of the dividend vouchers. u can find this on google search engine

[fahadz1]

HI..

my accountant have given me company accounts & Dividend vouchers ! they are on simple A4 paper without letter head and stamp !

do i need to stamp by accountant or accountant details are enough ?

please let me know asap !!

Regards

[adnanub]

yes u must stamp the dividend voucher and company accounts by your accountant

[fahadz1]

thanks for reply. My Accountant said either company stamp should be there on divided voucher or it should be company letter head both same thing !

he said there is no need to put his stamp on dividend voucher.

please confirm me.

[manishmittal]

thanks for reply. My Accountant said either company stamp should be there on divided voucher or it should be company letter head both same thing !

he said there is no need to put his stamp on dividend voucher.

please confirm me.

He is correct.

[hsmpmigrant]

Hi PinkFloyd and all.

I am also looking for my extension through the route of company account ( profit and loss ,balance sheet etc ) and letter from accountant.

Could you please confirm did you put the company account ( profit and loss ,balance sheet etc ) on ur own company letterhead or it was on the plain paper provided by accountant.

Appreciate anyone's help in this regard.


Thanks,
HSMPMIGRANT

[fahadz1]

it was on plain paper signed by director(you) and accountant

Hi PinkFloyd and all.

I am also looking for my extension through the route of company account ( profit and loss ,balance sheet etc ) and letter from accountant.

Could you please confirm did you put the company account ( profit and loss ,balance sheet etc ) on ur own company letterhead or it was on the plain paper provided by accountant.

Appreciate anyone's help in this regard.


Thanks,
HSMPMIGRANT

[myegin11]

As far as I know, it can be on plain paper as long as it has the director(s)'s wet signature.

On the other hand, most probably your company accounts are unaudited. That is why, you have to include a letter from your accountant confirming all the profit figures you are entitled, profit loss accounts, balance sheet and your relationship with the company.

I was in the same situation as I could not decide whether I was employed or self-employed. I was first going to apply as self-employed. So, I asked my accountant to prepare company accounts. But there was problem as the previous accounts were 6 months old which makes it unsuitable to prove earnings of 12 months in 15. My accountant advised me to change the accounting period end date. (Be careful, you can do this once in 5 years (rare exceptions)) This would shorten the recent accounting period but my company profit in this shorten period was enough to claim points. So, I did that way. Then I realised all the requirements for invoices, contracts etc. and I thought this would be a complicated application.

I changed my mind and applied as 'Employed'. Requested my payslips from my accountant, have them stamped and signed by my secretary and also my accountant signed them. I also prepared dividend vouchers similarly. They were all corroborating with my bank statements just the salary and dividend payments were a bit irregular time to time. I made the corroboration links clear in my cover letter.

However, just in case, I enclosed my company accounts, confirming accountant letter, recent invoices and work contracts (and more company documents) in the application form. I am a bit concerned as this might confuse the case worker but at least I included everything I have and tried to make this clear in my cover letters.

[hsmpmigrant]

Thanks alot Guys for sharing the info

I am on HSMP visa valid from Feb 2008 valid to Feb 2010 and I got an appointment with Crydon office in 3rd week of Dec 2009.

I do agree things really get complicated to show earnings for a specified period. Mine accounting year end is 31st Mar 2009 . Actually I wanted to claim from Nov-2008 to Nov-2009 but preparing such statement will be tricky and complicated .So for simplicity, I am claiming from 01-Apr-2009 to Nov-2009 luckly the net profit is satisfying the requirement for extension.

As everyone is saying , I will get these statements on the plain paper signed by me and hopefully by accountant if they agree otherwise I was thinking to get this on my company letterhead.

For Earnings
I am going to submit following docs
1) Profit and loss statement,balance sheet etc for a claim period
2) Letter from accountant showing the link between me and company and the earnings details for the claim period.

For Maintainance fund
1) Last 3 months personal bank statements

For other points
No documents since it is already submited for initial approval

Please suggest should I attach the Company Bank Statement too for the claim period ?

Also Please let me know if i am missing any important documents in this list ?

Many Thanks,
HSMPMIGRANT

[myegin11]

Assuming they corroborate with your company accounts, I would. Make sure the accountant letter comprises everything specified in the guideline.

[PinkFloyd]

The list looks good.

I took the company bank statements, invoice etc with me but not as a part of main application. I made them aware that I am carrying these as extra evidence and happy to submit if they so desire. As you are there in person, this should not be a problem.

All the best!

[hsmpmigrant]

Thanks for quick reply.

I think company account structure is standard in UK .So it will be same for all .

What I am thinking is the format of account letter , I have a rough idea what should be inside , please see the format below.

Rough Format of Account letter
-----------------------------------------------------------------------------------
To
XXXXX (this will be Home office center where one is applying )

Subject : Confirmation of the earning for XXXXXX

Dear Sir/Madam,

1) Details of the Accountant ..
2) showing they are acting as account for XXXXXX and then giving company details ( No , registered address,Vat No etc )
3) Linking the XXXX to his company and share holding pattern
4) Earnings details clearly specify the net profit figure from PL statement for the specified period.

Yours truly,

Accountant Signature
-----------------------------------------------------------------------------------

but if someone post here the format who already got an approval that will be great ofcourse removing figure n other personal details . So that other can use this thread in future with this kind of route for extension.

Many Thanks,
HSMPMIGRANT

[fahadz1]

claim period should be Nov 2008 to October 2009 or Dec 2008 to nov 2009

it cant be nov 2008 to nov 2009 - its 13 months. i also make this blunder mistake and got refused.

2nd Your gross income is countable not net profit only. and company accounts should be ONLY on plain paper. dont make them on your company letter head its wrong .

because accountant is making that and accountant is not a company employee.

Thanks alot Guys for sharing the info

I am on HSMP visa valid from Feb 2008 valid to Feb 2010 and I got an appointment with Crydon office in 3rd week of Dec 2009.

I do agree things really get complicated to show earnings for a specified period. Mine accounting year end is 31st Mar 2009 . Actually I wanted to claim from Nov-2008 to Nov-2009 but preparing such statement will be tricky and complicated .So for simplicity, I am claiming from 01-Apr-2009 to Nov-2009 luckly the net profit is satisfying the requirement for extension.

As everyone is saying , I will get these statements on the plain paper signed by me and hopefully by accountant if they agree otherwise I was thinking to get this on my company letterhead.

For Earnings
I am going to submit following docs
1) Profit and loss statement,balance sheet etc for a claim period
2) Letter from accountant showing the link between me and company and the earnings details for the claim period.

For Maintainance fund
1) Last 3 months personal bank statements

For other points
No documents since it is already submited for initial approval

Please suggest should I attach the Company Bank Statement too for the claim period ?

Also Please let me know if i am missing any important documents in this list ?

Many Thanks,
HSMPMIGRANT

[Aarthy]

Hello All

Can you pls provide another information?

Has anyone used the company funds as a proof for Maintenance funds?

In my case, I have kept all my funds in the company and Iam the sole shareholder.

Can I show the company bank account as a proof for maintenance fund requirement?

Cheers
aarthy

[fahadz1]

i dont think so.. its better u take dividend in your personal bank account.

that is company money not yours directly until you take dividend or salary.

Hello All

Can you pls provide another information?

Has anyone used the company funds as a proof for Maintenance funds?

In my case, I have kept all my funds in the company and Iam the sole shareholder.

Can I show the company bank account as a proof for maintenance fund requirement?

Cheers
aarthy

[PinkFloyd]

Dont open that pandora's box again!

There has been been couple of threads with this school of thinking. For all arguments and counter arguments, please search the forum.

In a nutshell, it is not allowed to show company funds as Maintenance. It should be in personal account.

Cheers!