Self Employed and Salaried Salary Calculation

[dell6400]

FYI...I have gone through many posts in this forum and UKBA tier 1 PDF before posting this query becoz i am still confused.

I need 20(23000+)points for my previous earnings which will make 75 and qualify for HSMP Extension. My earnings
Salaried--19500(Gross Salary No Doubts)

I am self employed too(No Limited Company,No Business Bank Account, No Umbrella Company, No Sole Trader,No Dividends,No Partner). Only Registered with HMRC and Paying NI. I am responsible for paying tax myself.

I have Invoices(Stamped by the company working for),Personal Bank Statements Showing money coming to my account.
I will get accountant letter as well.

My small confusing doubt before going to accountant is:
The accountant letter will be like this:

So and So person worked for this company for this many hours for this much money and this much time. Here are the details
0
GrossSal///Expenses(FOOD/Car/Internet/Power)///Tax///NI///NetSal
£2000 ///£500///£200///20///£1200
£1900///£600///£200///30///£1000

Gross Salary is paid to my account after i send the invoices whic means i will be spending the money on car allowance, food allowance, internet and all sorts of things before from my pocket. ***My contract also doesn't say that they will pay me for any expenses. They only pay me for the work on hourly basis at the end of the month.

So what will case worker consider salaried gross(19500) + Selfemployed gross(3900) or Self Employed Net(2200)

Thanks for the reply and help.

Regards
Dell

[HSK Accountancy Services]

FYI...I have gone through many posts in this forum and UKBA tier 1 PDF before posting this query becoz i am still confused.

I need 20(23000+)points for my previous earnings which will make 75 and qualify for HSMP Extension. My earnings
Salaried--19500(Gross Salary No Doubts)

I am self employed too(No Limited Company,No Business Bank Account, No Umbrella Company, No Sole Trader,No Dividends,No Partner). Only Registered with HMRC and Paying NI. I am responsible for paying tax myself.

I have Invoices(Stamped by the company working for),Personal Bank Statements Showing money coming to my account.
I will get accountant letter as well.

My small confusing doubt before going to accountant is:
The accountant letter will be like this:

So and So person worked for this company for this many hours for this much money and this much time. Here are the details
0
GrossSal///Expenses(FOOD/Car/Internet/Power)///Tax///NI///NetSal
£2000 ///£500///£200///20///£1200
£1900///£600///£200///30///£1000

Gross Salary is paid to my account after i send the invoices whic means i will be spending the money on car allowance, food allowance, internet and all sorts of things before from my pocket. ***My contract also doesn't say that they will pay me for any expenses. They only pay me for the work on hourly basis at the end of the month.

So what will case worker consider salaried gross(19500) + Selfemployed gross(3900) or Self Employed Net(2200)

Thanks for the reply and help.

Regards
Dell

You are sole trader by the way!!

For self-employment part you can only claim Net Profit after all expenses including your accountant's fees!

[mianrm]

i have gone though alomost the same case
employed and self employed registered with HRMC with my UTR number

Selft employed documents submitted :-
1- Account letter for my claiming period with gross income and net income.
2- Account letter (invoice explanation) stating when was invoice raised, when the client banked the money(all if your client made payments in installments) - this helps the case worker to see the dates in bank statement for matching purpose.
- also showing the gross income and and net income out of it.
3- mangement balance sheet (as i still have to file my tax returns)
4- management Profit and Loss statement (as still need to file tax)

5 bank statements for that period.


The case worker will then take your net income and add it with your employed income to see the total income.


i hope this helps
mianrm

[dell6400]

Thanks for the information,

If he considers net income then i will not get 20 points. I will forget about expenses. Will it change my case then as below

Which one will the case worker consider then

NetIncome=GrossIncome(Money into my account)-(Tax+NI)

OR

NetIncome=GrossIncome(Money in to my account)+(Tax+NI)

I will be paying Tax and NI myself. No expenses Claimed

This will really clear everything.

Thanks in advance.

[mianrm]

I suggest you not to play tricks....

how can anyone works for a client without having any expenses
this will make your case look more fishy.....

[dell6400]

Thanks for the quick reply mate. I accept it will make fishy.

Can you clear this doubt before going to accountant.

What will case worker consider(Self Employed)

NetIncome=GrossIncome(Money into my account)-(Tax+NI+Expenses)

OR

NetIncome=GrossIncome(Money in to my account)+(Tax+NI)