Confused Regarding Self Employed Income...Need Help Plz

[MACY]

I am self employed registered as a sole trader. I have business account i hv been drawing money to my personal bank account every month which is 2000 GBP. after 12 months tht becomes 24K. But in my Business Acc i hv transactions of around 35K GBP After expenses. Which is required. Some1 told me tht i need to show my personal bank statement to prove income but i hv been managing my Business Account. Could Someone plz help me out im planning to apply next month. Thnx in Advance.

[MACY]

No One knows..?

[blackthunder]

u need to have some patience..coz this is not online paid forum to give you instant replies in 2 hours...

[MACY]

yes u r rite... ?????

[pkumar]

If you looking for what documentation you need to self employment then below two links should help:

http://www.immigrationboards.com/viewto ... e422bddaed

http://www.immigrationboards.com/viewtopic.php?t=64398

[rpsarangi]

if you are a sole trader and not operating in a ltd. company then you can just sho wthe transacion in your business account as the gross income and get the required letters from the account. i dont think that you need to draw salary from your business account as required for a Ltd. company..i am not a expert..wait for others to respond.. all the best..

[Pranvayu]

Hi,

I have faced a rejection to Tier 1 due to proof of income not being specific enough and not from accountant. The best thing to do is to print off the list of documents/proof you require as Self employed/ sole trader, and approach your accountant or seek counsel from a good accountant and ask them to arrange documents/letters as stated in the guidelines. The accountant will understand the requirement and will be in a position to help you throughly.

I made the mistake of arranging for documents myself in order I saw fit but post rejection and a visit to my accountant proved that all I had to do was show him what I required and he would have been able to provide me the details in exactly the format required. I would have saved time, rejection, money, and most imporatantly, disappointment.

[MACY]

Dear friends, Thanx for ur valuable opinions and suggestions. One more Question, as i have a retail shop business and most of my transactions are cash into the business account. Total cash in is around 43K and almost 35K is after expenses means 8k are expenses but i hv been paying my bills and rents in form of cash,,, Rest 8k is other business expenses. Could it be ny problem.?

second question is can i show 800GBP maintenance funds through my business acc or i need to show through my personal account.


thnx in advance.

[MACY]

ny reply..?

[Idea]

ny reply..?

ask clear questins and u might get answers.

if you have business - your profits/dividends is your income and not your turnover

you might have lot of money going into your business acccount - you cant claim all that as your income.