Does an Accountant Needs another Accountant?

[blue moon]

Dear All,

I have searched many posts invloving Limited company directors paying salary, dividend etc to thier personal accounts to prove their earnings.

Almost everyone advised to get an accountant to confirm this.

My problem is that I am a qualified accountant myself and have my own little practice!. I know how to make my own Payslips or Accounts etc. But I am not sure do I still need another accountant to prove my Net Profit in the business? which obviously I am not very keen to!

There is no HMRC or legal requirement to have an accountant to file your accounts or tax return. My company is just over one year old and accounts and corporation tax is not due yet?

I will applying for Tier-1 extention soon so will apperciate if somebody can share their expereince in the similar situation.

I have my Payslips and dividend vouchers + Net amount in my personal account. Are they enough to prove the earning requirement?

Thanks in anticipation.

Cheers

[Sushil-ACCA]

it is basic rule of control that same person can not act as well as approve it.

u need an accountant to certify it .

[blue moon]

it is basic rule of control that same person can not act as well as approve it.

u need an accountant to certify it .

Hi Sushil,

Thanks for the reply. Does your answer is general or specfic to home office requirement?

For tax or legal purposes there is no need for an accountant to certify my income but I am not sure about HO.

Just to clerify- If all earning is shown in bank statement (one source) and payslips and P60, PAYE returns etc (Second source) then what I need to get certified from accountant?



Thanks for your reply.

[mvent00]

vi)- Self-employed applicants only - letter from the applicant’s managing agent or accountant (confirming that the applicant received the exact amount he/she is claiming, or the net profit to which he/she is entitled). This is a letter from the applicant’s managing agent or accountant on headed paper confirming the gross and net pay for the period claimed. The letter should give a breakdown of salary, dividends, profits, tax credits and dates of net payments earned. If the applicant’s earnings are a share of the net profit of the company,

[HSK Accountancy Services]

it is basic rule of control that same person can not act as well as approve it.

u need an accountant to certify it .

Hi Sushil,

Thanks for the reply. Does your answer is general or specfic to home office requirement?

For tax or legal purposes there is no need for an accountant to certify my income but I am not sure about HO.

Just to clerify- If all earning is shown in bank statement (one source) and payslips and P60, PAYE returns etc (Second source) then what I need to get certified from accountant?



Thanks for your reply.

Nobody can self-certify their own income. I am afraid you need another accountant!

This is not just for homeoffice. It is same for Bank loans, Mortgage applications etc.

[Sushil-ACCA]

At time of First application for TIER-1 / PSW if u r self employed
At time of Extn of Tier -1 Must, if u r self employed


No not requred at time of ILR - Applicant have to show progress of business

regards