Guidence Notes Page 26 Point 142 Meaning

[email257525]

Hi
Friends


Tier 1 G Guidence notes, Page 26 Point 142, What does this mean?

[ChetanOjha]

Hi
Friends


Tier 1 G Guidence notes, Page 26 Point 142, What does this mean?

142. An applicant must provide full contact details for each source of income he/she gives us, so we can verify all supporting documents if necessary.
It means you have to provide contact details of the employer/accountant where you worked so that caseworker can verify your salary should he feel necessary.

[email257525]

@ Cheta

Please correct me if i am wrong,

Source of income
When working for employer is Employer

But when running own Ltd company and providing services to clients IS CLIENTS


Regards

[ChetanOjha]

But when running own Ltd company and providing services to clients IS CLIENTS
Regards

That depends how are you planning to show earnings. For e.g. I am contractor and running my own company paying myself as salary(minimum) everymonth and dividends, I will show myself as employee of the company(my own).

If you are keeping your money is your business account that you need to provide proof of income(invoices etc)+accountant letter clearly mentioning your position in company and how you are running it(which means how are you paid by your company) etc.

[email257525]

I am working full time for a company,
Plus
To top up my earnings Running my own Limited Company,
I am not taking any salary from my own company every month, But planning to take dividends every three months. My company provides services to clients/customers.

In this snario Would i need to provide Invoices and contact details of the clients/customers to HO on the time of applying Tier 1 G or Accountant letter will be sufficient.

@ Cheta and Other forum members.

Has any one got Tier 1 G having the same Snario, Salary from full time job, No salary from own limited company but just the dividends every month/every three months/yearly.

Is this easy to adopt and economic
Any comments and suggestions,,,

[ChetanOjha]

But planning to take dividends every three months. My company provides services to clients/customers.
Any comments and suggestions,,,

Yes you can take dividends every 3 months(or every months/week/day:-) ). It is upto you to decide how you want to run it. It's your company.
In the case of dividends, you need to provide dividend vouchers+accountant letter (saying you were given dividends from your company). These two document will corroborate your bank statements(for dividends).

You will be fine with:1
1. Employer: Payslips + Personal Bank Statement
2. Your own company: Dividend Vouchers+ Accountant Letter + Personal Bank Statement.

Mention this clearly in your cover letter.You can also use this template to explain salary. I don't see any problem with that.