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You don't necessarily need to earn GBP 50000 for extension considering your current circumstances i.e Age-28 & Qualification - Bachelorspaul.hughson wrote:I am 28 years now and would be 30 or 31 at the time of applying for tier 1 extension.
I hold a bachelors degree from India.
paul.hughson wrote:Dear All,
I am from India and thought this forum would help me get clarification on the Tier 1 Extension earning rule i.e.
Is it necessary to earn GBP 50000 in past 12 months to get eligible for tier 1 extension for next 3 years?
And, if yes, is it possible to earn GBP 50000 pa for a 5 yr experienced Web Marketing Manager in UK?
Please advice and help me decide if I need to migrate to UK.
Thanks for your help in advance.
Kind regards,
Thanks npanglia! Much appreciated!!npanglia wrote:The above sum comes out to be 55... which says balance of 20 Points which can be gained if your salary is greater than 35,000 GBP for last 12 months at the time of applying for extension.
all most all have business incomepaul.hughson wrote:Thanks npanglia! Much appreciated!!npanglia wrote:The above sum comes out to be 55... which says balance of 20 Points which can be gained if your salary is greater than 35,000 GBP for last 12 months at the time of applying for extension.
So, I understand that I should be earning 35,000 GB in 12 months to be eligible for extending my permission to stay in UK for Tier 1 general.
Let's say I got a salaried job in UK at 25,000 GBP gross pay. Can I also add the payment of 10,000 GBP that I may earn in last 12 months as a result of doing freelance work to my overseas clients (They will pay me by Paypal Quarterly, which I can then transfer to my UK local bank account)? If this is allowed what evidences do I need to provide? If not, what are the other options to stay in UK?
Please advise.
Hi Sushil-ACCA!Sushil-ACCA wrote:all most all have business income
samepaul.hughson wrote:Hi Sushil-ACCA!Sushil-ACCA wrote:all most all have business income
I think i have not fully understood what you mean by business income (i hope you were referring to the freelance income i mentioned in my earlier post)...can you kindly elaborate more on this please....
So, does it mean I can also show the freelance earned amount as my previous earnings to be eligible for the tier 1 extension...?Sushil-ACCA wrote:samepaul.hughson wrote:Hi Sushil-ACCA!Sushil-ACCA wrote:all most all have business income
I think i have not fully understood what you mean by business income (i hope you were referring to the freelance income i mentioned in my earlier post)...can you kindly elaborate more on this please....
ANY Income which is taxable with some exceptions can get earning points from HOpaul.hughson wrote:So, does it mean I can also show the freelance earned amount as my previous earnings to be eligible for the tier 1 extension...?Sushil-ACCA wrote:samepaul.hughson wrote:Hi Sushil-ACCA!Sushil-ACCA wrote:all most all have business income
I think i have not fully understood what you mean by business income (i hope you were referring to the freelance income i mentioned in my earlier post)...can you kindly elaborate more on this please....
I would like to hear as wellfawzyyy3 wrote:hi,
the business earning in oversea is considered as self employee i believe, I am getting 40000GBP per year from overseas business, my questions are:-
1) how to make the 40000 GBP taxable, how to tell UK governement this what i have earned and i will need to pay tax?
2) what prove i need to show (documents) that i earned 40000GBP as oversea earning which will be transferred to my UK bank account?
3) will ii get points on overseas earning and combined it with my UK salary (assume 25000 GBP)
thanks
fawzyyy3 wrote:hi,
the business earning in oversea is considered as self employee i believe, I am getting 40000GBP per year from overseas business, my questions are:-
1) how to make the 40000 GBP taxable, how to tell UK governement this what i have earned and i will need to pay tax?
u Need Practising accountant for this to sort it out
2) what prove i need to show (documents) that i earned 40000GBP as oversea earning which will be transferred to my UK bank account?
Business Accounts
Business registration
tax / vat / business insurance / other registration documents
bank statements
tax return fiing in UK
Sales / services summary -name address contact details of yr clients
3) will ii get points on overseas earning and combined it with my UK salary (assume 25000 GBP)
sure, so long u follow HMRC rules
thanks
fawzyyy3 wrote:hi,
what about if i am self employee contractor and do overseas projects, will this be applicable? I mean combine salary and self emplyee contractor earning for extension application for tier1?
YES
will this rules change after 2 years?