Post
by mvent00 » Wed Sep 30, 2009 9:56 pm
You should do it in the way you feel suitable to your status, it should be your decision:
Tier 1 (General) Policy Guidance page 25 to 27 of 49
1- Self employed:
Examples of document combinations to provide
Self-employed earnings within a business or company structure:
If an applicant has worked in a self-employed capacity in his/her own business or company structure and has chosen to keep his/her earnings within the business or company, he/she could provide:
• business or company accounts that meet statutory requirements and show the net profit made for the earnings period claimed; and
• a letter from his/her accountant confirming the details in those accounts.
If the applicant is not the sole shareholder of the company he/she should also provide:
•a letter from his/her accountant confirming his/her shareholding and the proportion of net profit before tax to which he/she is entitled for the earnings period claimed.
Details of documents required
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, the letter should also explain this.
viii) Company or business accounts that clearly show the net profit of the company or business. Accounts must show both a profit and loss account (or income and expenditure account if the organisation is not trading for profit) and the balance sheet should be signed by a director. Accounts should meet statutory requirements and should clearly show the net profit made over the earnings period to be assessed.
2- As an employee:
Examples of document combinations to provide
Employees who receive a salary:
A salaried employee could provide a combination of:
• personal bank statements covering the full 12-month earnings period;
and either:
• payslips for the full 12-month earnings period; or
• a letter from their employer.
(We consider that payslips and letters from an employer are from the same source and an applicant should therefore not provide a combination of these two types of document.)
Details of documents required
i) Payslips: These should be either formal payslips or on company headed paper. Where formal payslips are produced on plain paper they must be stamped and signed by the employer. Payslips which are not on headed paper or the applicant receives all pay slips online, he/she must authenticate the evidence by asking the employer to sign and stamp a printout. If the applicant provides payslips, they must cover the whole period claimed (for example, if payslips are produced monthly, the applicant must provide the payslip for each month of the period claimed).
ii) Personal bank statements showing the payments made to the applicant: Bank statements provided must be on official bank stationery, and must show each of the payments that the applicant is claiming. If the applicant wishes to submit electronic bank statements from an online account he/ she should also provide a supporting letter from the bank on company headed paper confirming that the documents are authentic. Alternatively an electronic bank statement bearing the official stamp of the bank issuing the statements will be accepted. This stamp must appear on every page of the statement. For the purposes of this guidance an online bank account is one that operates solely over the internet and sends their bank statements to their customers electronically (for example over the internet or via email).
iii) Letter from the applicant’s (previous and/or present) employer(s) (or in the case of winnings, the relevant awarding body) confirming that he/she has received the exact amount claimed. This is a letter on company headed paper which clearly shows the applicant’s earnings during period claimed, and the date and amount of each payment. This letter should be dated after the period for which earnings are being claimed and should clearly show the applicant’s gross and net pay.â€
