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Contact an accountant. Ask him to give you a letter which can corroborate your payslips(if you don't have payslips, accountant letter will do as well).Cormet wrote:Hi,
I need help regarding Tier 1 General Visa first time applying as currently I am on PSW and got visa till Jan 2010.
I am working as an IT Contractor through my own limited company.
This company was registered on 1st October 2008 and I started my current contract on 13th October 2008.
On 12th October 2009 I will get my required earning which is 32000.
I have not paid any tax and not issued any payslip to my self so far. All I use to do is transfer money from Company’s business account to my personnel account. As I contacted an accountant 6 months before he asked me to come on 12th October 2009 when your required income will be completed.
But one of my friend told me that you had to be done lot more in order to apply for Tier1 General Visa.
Please help me what I need to do as I want to apply in October 2009.
Is there any way I can overcome things which I had not done so far.
Best Regards,
Cormet
ashishashah wrote:Hmm..Not paid any tax?HMRC will be keeping an eye on you.
you just cannot transfer money from Compnay account to your personal account..Have you paid Employer and Employee NI?
Thanksashishashah wrote:Hmm..Not paid any tax?HMRC will be keeping an eye on you.
you just cannot transfer money from Compnay account to your personal account..Have you paid Employer and Employee NI?
I am feeling better now after getting your reply. Thanks.Sushil-ACCA wrote:you r fine my friend if no payslips r issued
u can claim dividend as basis for earning pts
yr accountant is correct and u have to pay taxes within 9 months of close of yr book (that after year end)
so relax and dont get scared
regards
The company pays the corporation tax not you the director. as a director you may need to submit a self assessment which will determine the tax you pay on the income you have recieved as a director. as a director there are many tax planning methods that you can apply to reduce and delay your tax liability.Cormet wrote:I am feeling better now after getting your reply. Thanks.Sushil-ACCA wrote:you r fine my friend if no payslips r issued
u can claim dividend as basis for earning pts
yr accountant is correct and u have to pay taxes within 9 months of close of yr book (that after year end)
so relax and dont get scared
regards
Can you please give me some more information that how my Tax will be calculated and which Tax documents do I need to include in my application as:
I am working through my limited company and I am acting as a Director (will be an employee also?) and having 100% share.
All the company income is going to my personal account.
Do I need to pay corporate Tax also if yes on which income will it be calculated?
You also said I have 7 months from year end so that mean my company’s first year will be completed on 30th Sep-09 so I have further 7 months to pay tax? Is that my personal Tax or corporate Tax?
Regards
How are you? Accountant? If yes, don't start advertisement in this forum.bobby80gh wrote:if you require further assistance and advise with regard your running your payroll, preparing your dividend vouchers, drafting your company accounts etc you can contact me on this number xxxxx.
bobby80gh wrote:
if you require further assistance and advise with regard your running your payroll, preparing your dividend vouchers, drafting your company accounts etc you can contact me on this number XXXXXXXXXXXXXXX.
chetanojha wrote:How are you? Accountant? If yes, don't start advertisement in this forum.bobby80gh wrote:if you require further assistance and advise with regard your running your payroll, preparing your dividend vouchers, drafting your company accounts etc you can contact me on this number XXXXXXXXXXXXX.