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Can I include sale price of a website I sold last year ...

Archived UK Tier 1 (General) points system forum. This route no longer exists.

Moderators: Casa, Amber, archigabe, batleykhan, ca.funke, ChetanOjha, EUsmileWEallsmile, JAJ, John, Obie, push, geriatrix, vinny, CR001, zimba, meself2, Administrator

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rackspace
Newbie
Posts: 30
Joined: Fri Mar 26, 2010 11:55 am

Can I include sale price of a website I sold last year ...

Post by rackspace » Sun Mar 28, 2010 12:23 pm

Rules state:
"The applicant can claim points for 99. previous earnings in any single, consecutive
12-month period during the 15 months immediately before the date of applying. An
applicant may claim points for a 12-month period of earnings outside of this 15 months if
they can show that he/she has been"


Lets say I sold a website on Feb 15, 2009 for 5000 pounds.
1. Can I include it in my yearly earnings?

I can prove it by the bank statement and online payment receipt.
2. Will this proof be enough?

Taking in to the account Recent 15 month rules for the earning to be claimed, my last date for the application will be May 15, 2010?
3. Is the above statement right?

John
Moderator
Posts: 12320
Joined: Wed Nov 10, 2004 2:54 pm
Location: Birmingham, England
United Kingdom

Post by John » Sun Mar 28, 2010 12:45 pm

I think an interpretation of what you post is this. You were self-employed and the profits of that self-employment included the proceeds of sale of the website.

But were there are expenses incurred in earning that profit? Have any accounts been drawn up showing the amount of the net profit from your self-employment?
John

ali_hsn
Member
Posts: 156
Joined: Mon Apr 27, 2009 5:05 pm
Location: United Kingdom

Re: Can I include sale price of a website I sold last year .

Post by ali_hsn » Mon Mar 29, 2010 11:41 am

rackspace wrote:Rules state:
"The applicant can claim points for 99. previous earnings in any single, consecutive
12-month period during the 15 months immediately before the date of applying. An
applicant may claim points for a 12-month period of earnings outside of this 15 months if
they can show that he/she has been"


Lets say I sold a website on Feb 15, 2009 for 5000 pounds.
1. Can I include it in my yearly earnings?

I can prove it by the bank statement and online payment receipt.
2. Will this proof be enough?

Taking in to the account Recent 15 month rules for the earning to be claimed, my last date for the application will be May 15, 2010?
3. Is the above statement right?
Hi rackspace,

If you are under WP in the UK, you are not allowed self employment or any part time work apart from the one you have been granted leave for. However, as per my understanding if you want to claim points from 15th of Feb 2009 onwards, it would be from Feb 09 - Jan 10 (12 months) and the latest you can apply by is Apr 10.
Since, you were in self employment you also need to show an accountant's letter stating your earnings from this job and should be registered as self employed. i.e. I think you also need to show the tax you have paid at year end (before Apr 10).

a document produced by a person, business, or company as an official return to a tax authority, showing details of earnings on which tax has been paid or will be paid in a tax year. The document must have been approved, registered, or stamped by the tax authority


I hope this helps.
regards,
Ali
all is well that ends well

Sushil-ACCA
Diamond Member
Posts: 1234
Joined: Wed Apr 02, 2008 2:47 pm
Location: Wembley Park

Re: Can I include sale price of a website I sold last year .

Post by Sushil-ACCA » Mon Mar 29, 2010 12:56 pm

rackspace wrote:Rules state:
"The applicant can claim points for 99. previous earnings in any single, consecutive
12-month period during the 15 months immediately before the date of applying. An
applicant may claim points for a 12-month period of earnings outside of this 15 months if
they can show that he/she has been"


Lets say I sold a website on Feb 15, 2009 for 5000 pounds.
1. Can I include it in my yearly earnings?

YES

I can prove it by the bank statement and online payment receipt.
2. Will this proof be enough?

SOME BODY NEED TO CERTFY IT , ACCOUNTANT WITH LICENCE TO practice can do it.


Taking in to the account Recent 15 month rules for the earning to be claimed, my last date for the application will be May 15, 2010?
3. Is the above statement right?
this is very technical u need a good accounts advce on this and this sortable

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