Limited Company Docs - Check my submission please??

[smiley82]

Hi,

I'm planning on submitting my Tier 1 extension docs (currently on HSMP).

I am a Limited Company, drawing a salary and dividend payments.

I am wanting to claim for the period 1 April 2009 - 11 December 2010. I have earnt enough funds within this period to claim the points required, and this is also in line with the financial year for my company.

I was planning on submitting:

- Monthly Payslips (Apr - Dec) - signed and stamped by Accountant
- Personal Bank Statements matching payslip amounts

- Dividend Certificates showing dividends declared (signed and stamped by Accountant)
- Business Bank Statements showing Dividend and Salary Payments
- Letter from Accountant stating Earnings (salary and dividend) within the above earnings period.
- Payments Summary Table (Signed and stamped by Accountant) showing Gross and Net Payments and dates paid)

My payslips are basic A4 printed from word. They are however signed and stamped. Will this be enough?? Also, I know it said signed and stamped by Employer, but my employer is my company (i.e. Me). Surely signed by the Accountant is better?

Also, I haven't been given Profit & Loss or Balance Sheet accounts, as I believe I only need 2 pieces of evidence, which are listed above. Is this correct??

I really can't afford to be rejected....so any support or help gratefully received.

Many thanks

[ChetanOjha]

You can provide below evidences which should be fine for you.

1. Payslips (stamped and signed) from your accountant.
2. Dividend Vouchers.
3. Letter from accountant confirming your salary and dividends (month wise). Template here
3. Personal Bank statements to corroborate above points.


P&L and other evidences are nice to have documents. You can submit if you want but those are about your company. Unless you are going for self-employer category, which are you not , you are not required to submit those documents.

I had similar situation as you when I applied for Tier-1 extension. I submitted only payslips + bank statements (as I paid myself enough salary to meet earning criteria).

[smiley82]

Very helpful reply, thanks very much

[Sushil-ACCA]

Hi,

I'm planning on submitting my Tier 1 extension docs (currently on HSMP).

I am a Limited Company, drawing a salary and dividend payments.

I am wanting to claim for the period 1 April 2009 - 11 December 2010. I have earnt enough funds within this period to claim the points required, and this is also in line with the financial year for my company.

I was planning on submitting:

- Monthly Payslips (Apr - Dec) - signed and stamped by Accountant FINE Accountat,s stamping not required
- Personal Bank Statements matching payslip amounts FINE
-
- Dividend Certificates showing dividends declared (signed and stamped by Accountant) - on company letter head , singned by secretary or director of company
- Business Bank Statements showing Dividend and Salary Payments
- Letter from Accountant stating Earnings (salary and dividend) within the above earnings period. confirming income of comapny not your
- Payments Summary Table (Signed and stamped by Accountant) showing Gross and Net Payments and dates paid)

My payslips are basic A4 printed from word. They are however signed and stamped. Will this be enough?? Also, I know it said signed and stamped by Employer, but my employer is my company (i.e. Me). Surely signed by the Accountant is better?

Also, I haven't been given Profit & Loss or Balance Sheet accounts, as I believe I only need 2 pieces of evidence, which are listed above. Is this correct??

I really can't afford to be rejected....so any support or help gratefully received.

Many thanks

basically

2 out of 4 for company earnings

1. company accounts
2. company income certificate
3. Company's sales summary
4. Divdend vouchers

[skomati]

i think he do not need income certificate for his company coz he is claiming points for his earned income (salary+dividends)
so he has to get an accountant letter to confirm his salary and dividends..

[Sushil-ACCA]

i think he do not need income certificate for his company coz he is claiming points for his earned income (salary+dividends)
so he has to get an accountant letter to confirm his salary and dividends..

Dividend are not considered income for HO purpose unless it is from self managed company .

if a self managed company is making loss still issuing dividend how it will be checked ?

Any way accountants are not required to certify salary and dividend income.

[skomati]

thank you sushill, i got your point...
u are a star & real accountant...

Thank you...

[Mimo2]

Hello I am going to submit my applicaton this week.

I am employee of my own company with combination of payslip/Dividend.

For my suporting ducuments I am going to send:

1.pay slips
2.dividend
3.my personal bank statments
4. Conforamtion letter from my accountant withformat below:
http://www.immigrationboards.com/viewto ... 988#317988
Accountant Letter for Tier-1/Extension/ILR[This should be printed on Accountant Letter Head].

after reading some ofthe topics I a bit confused that sould I provide any ducuments for my company also or not?

as Sushil stated in his coments, How can I show benefit/losses of my company before end of tax year (april 10)?

I went trough some of the guid lins from HO website which cleardy said:

Supporting documents must show all the relevant payments you are claiming points for. If earnings from a particular source have been paid in more than one way, you must send two types of document for each part of the payment claimed. For example, if you have been paid for your salaried employment by means of a salary and a dividend. If the gross and net dividend payments are included on your payslip, and can be supported by details of the net dividend payment on your bank statements, you could send bank statements and payslips as supporting evidence for both the salary and the dividend claimed. However, if the dividend details are not included on the payslips, you must also send separate dividend vouchers to support the dividend payments and cross-reference these with the bank statements you send.

You should give full contact details for each source of income you give us, so we can verify all supporting documents if necessary.

You should also send any information or explanation of the documents you have sent that may help us to consider the earnings claimed.
For example:

If you are operating through a limited liability company that is administered on your behalf by a managing agent or accountant. The name on the payment advice may therefore differ from the credit payment entries on your bank statements. You should provide a letter from your managing agent or accountant to clarify the relationship between everyone concerned.

[Mimo2]

Looking for your advise and thanks for that,(speciali Sushil)

[skomati]

ask ur accountant to prepare p/l and balance sheet up to the required date and submit them to ukba.. u can write a note that accounts are due on so and so date... u dont need to submit the accounts to company house or hmrc

and also ask the accountant to give a letter to confirm the details from the p/l and balance sheet on his letter head.

[Mimo2]

So the letter that I have now is not sufficent ?

Still confiused why should I submit my company acount as I am applyng as a emploee! if I wanted to do it trough my company I was gooint to claim my netprofit which was at list 12% more than my dividend gross !
and also by that meaning the format of the acountant letter that I have post thelink in wrong ?

Thanks for reply

[Mimo2]

Sorry about my typing mistakes ! abit sleepy and worry!

[Mimo2]

my other concern is actully I am calaiming my income for 2009,so it will be in two seperate tax year which means that two P/L and balance sheet for company! I dont know how can I sort it out to cover my income period,

[skomati]

According to sushil,Acca,
even though u are applying as employee of your own company, u have to submit company accounts and letter from accountant to confirm the details in those accounts. so that the case worker will know how much percentage of the net profit has been paid to you in the form of dividends and what is net profit of the company..

He said if ur company is running in losses and u can not claim the dividends know..thats why

i know few mebers on this forum, just submitted

1. pay slips
2. dividend vouchers
3. accountant letter to confirm the dividends
and they got their visa..

i am also in the same boat like you..
i am submitting the above documents and in addition, i am submitting extra supporting documents
1. company accounts
2. accountants letter to confirm the details in the accounts
3. business bank statement..



i hope i am clear...

[ChetanOjha]

According to sushil,Acca,
even though u are applying as employee of your own company, u have to submit company accounts and letter from accountant to confirm the details in those accounts. so that the case worker will know how much percentage of the net profit has been paid to you in the form of dividends and what is net profit of the company..

I do not agree fully with the above statement. If you are paying yourself enough salary to meet Tier-1 requirements than you are free to use payslips+personal bank statement. I used only payslips+personal bank statement for my extension and which are accepted without hitch.

If you are taking salary+dividends from company, then you can submit:
1.payslips
2.dividend vouchers
3.accountant letter
4.personal bank statement(corroborating dividends & net salary).

Company accounts or company bank statements are still not required. Case worker is not(and should not) bothered about your company's P&L or how you are running your company or whether your company is making profit.

Above mentioned statement is only applicable when a person is keeping all his earnings in company account.

[Sushil-ACCA]

Hello I am going to submit my applicaton this week.

I am employee of my own company with combination of payslip/Dividend.

For my suporting ducuments I am going to send:

1.pay slips
2.dividend
3.my personal bank statments
4. Conforamtion letter from my accountant withformat below:
http://www.immigrationboards.com/viewto ... 988#317988
Accountant Letter for Tier-1/Extension/ILR[This should be printed on Accountant Letter Head].

after reading some ofthe topics I a bit confused that sould I provide any ducuments for my company also or not?

as Sushil stated in his coments, How can I show benefit/losses of my company before end of tax year (april 10)?

I went trough some of the guid lins from HO website which cleardy said:

Supporting documents must show all the relevant payments you are claiming points for. If earnings from a particular source have been paid in more than one way, you must send two types of document for each part of the payment claimed. For example, if you have been paid for your salaried employment by means of a salary and a dividend. If the gross and net dividend payments are included on your payslip, and can be supported by details of the net dividend payment on your bank statements, you could send bank statements and payslips as supporting evidence for both the salary and the dividend claimed. However, if the dividend details are not included on the payslips, you must also send separate dividend vouchers to support the dividend payments and cross-reference these with the bank statements you send.

You should give full contact details for each source of income you give us, so we can verify all supporting documents if necessary.

You should also send any information or explanation of the documents you have sent that may help us to consider the earnings claimed.
For example:

If you are operating through a limited liability company that is administered on your behalf by a managing agent or accountant. The name on the payment advice may therefore differ from the credit payment entries on your bank statements. You should provide a letter from your managing agent or accountant to clarify the relationship between everyone concerned.

U have to finalise company accounts for 12 months for which u r applying for visa purpose

so

1.Accounts of company
2.sales summary of company on accts letterhead
3.company income certifcation on accts letterhead
4.dividend vouchers (Dividend is paid if there is profit , so above
items coroborate it)

and Salary period for 12 mpnths should be same what is 12 months period of company accounts.

[Mimo2]

Thanks Sushil

I know there were so many pepoleasking you about this issue but in the guid line they mentioned:

"Employees who receive a salary and dividend payments
If you are paid with a combination of salary and dividends, and both payments appear on your payslip, you could send personal bank statements for the full 12-month earnings period and either:

payslips for the full 12-month earnings period; or
a letter from your employer.
If you are paid with a combination of salary and dividends, and the salary and dividend payments do not both appear on your payslip, you can provide the documents listed above plus dividend vouchers for each dividend payment claimed, showing both the gross and the net dividend. "


Alos I think they will be concern about company documents if you want to keep the money within thecompany and basically calim point on your company profit before tax.

Is there any linkto guaid line regarding to finalizing the company account or are aware of any one applied with this documents and has been refused?

Thanks for reply

[alex2010]

You can provide below evidences which should be fine for you.

1. Payslips (stamped and signed) from your accountant.
2. Dividend Vouchers.
3. Letter from accountant confirming your salary and dividends (month wise). Template here
3. Personal Bank statements to corroborate above points.

P&L and other evidences are nice to have documents. You can submit if you want but those are about your company. Unless you are going for self-employer category, which are you not , you are not required to submit those documents.

I had similar situation as you when I applied for Tier-1 extension. I submitted only payslips + bank statements (as I paid myself enough salary to meet earning criteria).

Dear chetanojha,

Please kindly give some advice for my case.

I have 25% shareholding in a ltd company and I am not the director. I am going to apply for Tier 1 general initial appliation, going to claim my points as a salaried employee of the ltd company. I received my payslips monthly and the money was paid into my bank account by the company directly. The company pays PAYE for me.

Would it be sufficient if I supply 12 consecutive months payslips, 12 months bank stmts, and a cover ltr from the chartered accountant confirming my salary on behalf of the ltd company. Do you think I need to also provide a ltr from CA to confirm my shareholding of the ltd company?

In the current turbulent economic environment, our business is making a loss. so we have a loss in p/l and balance sheet, and our CA have only provided annual account to Mar 2008. Do I need to supply P/L, Balance sheet, business bank stmts as an employee of the company? I will not submit a divident voucher as we are not making a profit. W

As homeoffice say, 'Umbrella Companies
Where the applicant is operating as one of a number of shareholders (often known as an Umbrella Company), without being a Director, they may not be able to provide company bank statements. This may be for reasons of confidentiality with regard to the disclosure of earnings of other shareholders. A covering letter should be provided by the applicant’s accountant to explain this where appropriate. The corroboration of earnings evidence should still be possible through the applicant’s personal bank statements and an accountant’s letter.'


Thank you very much for your help! I look forward for your reply.

Kind regards

Alex

[Mimo2]

Hi every one,

Just wantedto inform you if you are claimimng point for salary and dividend (your personal income) there is no need for any company account information.

I have aplied just with my personal income evidence (dividend,PS, personal bank statments, and as additional document a letter frommy accountant) and have been approved today.

Thank you for your guide Shushil any way but I have to say there is no need to any comapny acounts.

[alex2010]

Hi every one,

Just wantedto inform you if you are claimimng point for salary and dividend (your personal income) there is no need for any company account information.

I have aplied just with my personal income evidence (dividend,PS, personal bank statments, and as additional document a letter frommy accountant) and have been approved today.

Thank you for your guide Shushil any way but I have to say there is no need to any comapny acounts.

Congratulations! Do you claim your earnings as employed or self employed? Can you please also advise what the account letter should say and the format?

[mubu]

Hi every one,

Just wantedto inform you if you are claimimng point for salary and dividend (your personal income) there is no need for any company account information.

I have aplied just with my personal income evidence (dividend,PS, personal bank statments, and as additional document a letter frommy accountant) and have been approved today.

Thank you for your guide Shushil any way but I have to say there is no need to any comapny acounts.

Congratulations Mimo2

Can you please share the templates of the cover letters you used - accountant letter etc. It will help us a lot, just like how the forum helped you

Good luck. I can PM you my email address if required.

[Mimo2]

hi everyone

I applied as a employee of my own company,,,

for the letter format I used the link below:

http://www.immigrationboards.com/viewtopic.php?t=46010

[leoseptember]

hi everyone

I applied as a employee of my own company,,,

for the letter format I used the link below:

http://www.immigrationboards.com/viewtopic.php?t=46010

Congratulations!!! Mimo2.
Could you tell me which one you used for calculation of income, your gross dividend figure or net dividend figure, please?
many thanks.

leo

[Mimo2]

gross

[peacarrot]

hi everyone

I applied as a employee of my own company,,,

for the letter format I used the link below:

http://www.immigrationboards.com/viewtopic.php?t=46010

So pleased to read your application was successful!

Do you know if I would need to submit my company accounts for my initial Tier 1 (General) application if I am a director of a company in NZ, when I am only claiming points for income as an employee of an unrelated organisation in NZ?

Thanks very much.