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I am in the same boat i am a limited company contractor planning to apply in feb i drew salary + dividend as standard practice for IT contractor and NI i pay via business account for the salary i earn on paye. As a limited company director i m not registered for self employed method.rizwan567 wrote:Dear forum members
The latest changes to Tier 1 guidance are:
para 140 says, If the applicant is claiming earnings from self employment in the UK, he/she must provide evidence that he/she was paying Class 2 National Insurance contributions during the period/s of self-employment used to claim points.
My question is: How about owners of ltd companies? What are they supposed to submitt with their application to meet above requirement. As only sole traders receive NI bills. Owners of Ltd companies do not receive such bills.
I look forward for your replies.
i got same problem i m the only director of my compnay am i suppose to pay nic?accoring to my accountant i m not suppose to pay nic can any body clear our this confusion plzatul.kundra1982 wrote:I am in the same boat i am a limited company contractor planning to apply in feb i drew salary + dividend as standard practice for IT contractor and NI i pay via business account for the salary i earn on paye. As a limited company director i m not registered for self employed method.rizwan567 wrote:Dear forum members
The latest changes to Tier 1 guidance are:
para 140 says, If the applicant is claiming earnings from self employment in the UK, he/she must provide evidence that he/she was paying Class 2 National Insurance contributions during the period/s of self-employment used to claim points.
My question is: How about owners of ltd companies? What are they supposed to submitt with their application to meet above requirement. As only sole traders receive NI bills. Owners of Ltd companies do not receive such bills.
I look forward for your replies.
I am little bit confused do i have to register as self employed as well now, as per understanding self employed income docs are different from limited company contractor. Pls. anybody clairfy if it the case then it is a problem ????
dear shahidshahid78 wrote:i got same problem i m the only director of my compnay am i suppose to pay nic?accoring to my accountant i m not suppose to pay nic can any body clear our this confusion plzatul.kundra1982 wrote:I am in the same boat i am a limited company contractor planning to apply in feb i drew salary + dividend as standard practice for IT contractor and NI i pay via business account for the salary i earn on paye. As a limited company director i m not registered for self employed method.rizwan567 wrote:Dear forum members
The latest changes to Tier 1 guidance are:
para 140 says, If the applicant is claiming earnings from self employment in the UK, he/she must provide evidence that he/she was paying Class 2 National Insurance contributions during the period/s of self-employment used to claim points.
My question is: How about owners of ltd companies? What are they supposed to submitt with their application to meet above requirement. As only sole traders receive NI bills. Owners of Ltd companies do not receive such bills.
I look forward for your replies.
I am little bit confused do i have to register as self employed as well now, as per understanding self employed income docs are different from limited company contractor. Pls. anybody clairfy if it the case then it is a problem ????
bro rizwan i do not draw out salaries i have been transferring money from my business account to my current account which my accounted showed as my dividend voucher by my compnay so i m confused what i m suppose to give earning proof to home officeatul.kundra1982 wrote:dear shahidshahid78 wrote:i got same problem i m the only director of my compnay am i suppose to pay nic?accoring to my accountant i m not suppose to pay nic can any body clear our this confusion plzatul.kundra1982 wrote:rizwan567 wrote:Dear forum members
The latest changes to Tier 1 guidance are:
para 140 says, If the applicant is claiming earnings from self employment in the UK, he/she must provide evidence that he/she was paying Class 2 National Insurance contributions during the period/s of self-employment used to claim points.
My question is: How about owners of ltd companies? What are they supposed to submitt with their application to meet above requirement. As only sole traders receive NI bills. Owners of Ltd companies do not receive such bills.
I look forward for your replies.
I am in the same boat i am a limited company contractor planning to apply in feb i drew salary + dividend as standard practice for IT contractor and NI i pay via business account for the salary i earn on paye. As a limited company director i m not registered for self employed method.
I am little bit confused do i have to register as self employed as well now, as per understanding self employed income docs are different from limited company contractor. Pls. anybody clairfy if it the case then it is a problem ????
we do not need worry since u r a director and 100% shareholder of the company i assume u take director salary plus dividend as normal. Technically we are not self employed. Self Employed ppl are registered sole trader and they pay class 2 national insurance the day they register as a self employed.
I have confirmed from my accountant we are already registered as director when we formed the company and started trading, in terms of u r question to National Insurance i assume we pay Class 1 National Insurance as we recieve pay slip every month from the accountat for the salary that we drew as director the NI that we pay on the payslip is class 1 and the payment entry reflects on business bank statement, so keep your account the way they are no need to worry..... pls see this link and compare our status with self employed....http://www.businesslink.gov.uk/bdotg/ac ... =RESOURCES