IT contractor Limited Company

samhita.bhattacharya · Post by **samhita.bhattacharya** » Thu Feb 24, 2011 5:07 pm

Hello Sr Members

Please let me know what are the documents as Income proof need to submit for Tier 1 renewal.
Members who are It contractor who have limited company has done Tier 1 renewal please help.

Regards
S

Sushil-ACCA · Post by **Sushil-ACCA** » Fri Feb 25, 2011 10:49 pm

Hmrc letter for ltd company

business bank a/c
salaes ummary with name, address & contact details of yr client
dividend vouchers
incme certificate
ltd company accts
business bank statmts

invoice

hussainkothari · Post by **hussainkothari** » Sat Feb 26, 2011 12:25 am

Hi All,

Wouldn't you be a employee of your limited company. For all practice reason you would be a salaried employee (unless you are self employeed). This is what my reading of the guide tells me. I am a little confused about this myself. Sushil-ACCA / adityaisukapalli, have you been thru this. Could you kindly explain?

Similar post http://www.immigrationboards.com/viewtopic.php?t=72777

adityaisukapalli · Post by **adityaisukapalli** » Sat Feb 26, 2011 7:55 am

hussainkothari wrote:Hi All,

Wouldn't you be a employee of your limited company. For all practice reason you would be a salaried employee (unless you are self employeed). This is what my reading of the guide tells me. I am a little confused about this myself. Sushil-ACCA / adityaisukapalli, have you been thru this. Could you kindly explain?

Similar post http://www.immigrationboards.com/viewtopic.php?t=72777

You are not self employed, if you are operating LTD company and taking salary as director.

hussainkothari · Post by **hussainkothari** » Sat Feb 26, 2011 10:43 am

You are not self employed, if you are operating LTD company and taking salary as director.

Well in this case, wudn't the dividend vouchers + salary slips + bank stms be enough?

Why do you have to submit the accountant letters, business bank a/c , sales summary with name, address & contact details of yr client,
incme certificate, ltd company accts, business bank statmts, invoice - as Sushil-ACCA has mentioned.

Kindly reply.

Sushil-ACCA · Post by **Sushil-ACCA** » Sat Feb 26, 2011 10:58 am

adityaisukapalli wrote:
hussainkothari wrote:Hi All,

Wouldn't you be a employee of your limited company. For all practice reason you would be a salaried employee (unless you are self employeed). This is what my reading of the guide tells me. I am a little confused about this myself. Sushil-ACCA / adityaisukapalli, have you been thru this. Could you kindly explain?

Similar post http://www.immigrationboards.com/viewtopic.php?t=72777
You are not self employed, if you are operating LTD company and taking salary as director.

A Person can be Employed or unemployed

employed means

Salary based or self employed

self employed includes following types

sole trader
partnership firm
ltd company
joint venture

adityaisukapalli · Post by **adityaisukapalli** » Sat Feb 26, 2011 12:16 pm

hussainkothari wrote:
You are not self employed, if you are operating LTD company and taking salary as director.
Well in this case, wudn't the dividend vouchers + salary slips + bank stms be enough?

Why do you have to submit the accountant letters, business bank a/c , sales summary with name, address & contact details of yr client,
incme certificate, ltd company accts, business bank statmts, invoice - as Sushil-ACCA has mentioned.

Kindly reply.

Dividend vouchers + salary slips + bank stms be enough.

Accountant Letter is not mandatory when you are claiming points for personal income. But, still it will help you if you submit.

Company accounts, profits, invoices, business a/c, etc are not at all necessary. If they need, they will ask while verification.

Sushil-ACCA · Post by **Sushil-ACCA** » Sat Feb 26, 2011 12:23 pm

adityaisukapalli wrote:
hussainkothari wrote:
You are not self employed, if you are operating LTD company and taking salary as director.
Well in this case, wudn't the dividend vouchers + salary slips + bank stms be enough?

Why do you have to submit the accountant letters, business bank a/c , sales summary with name, address & contact details of yr client,
incme certificate, ltd company accts, business bank statmts, invoice - as Sushil-ACCA has mentioned.

Kindly reply.
Dividend vouchers + salary slips + bank stms be enough.

Accountant Letter is not mandatory when you are claiming points for personal income. But, still it will help you if you submit.

Company accounts, profits, invoices, business a/c, etc are not at all necessary. If they need, they will ask while verification.

please restrain while advising if u r not sure of the HO operatonal procedure

Sushil-ACCA · Post by **Sushil-ACCA** » Sat Feb 26, 2011 12:24 pm

adityaisukapalli wrote:
hussainkothari wrote:Hi All,

Wouldn't you be a employee of your limited company. For all practice reason you would be a salaried employee (unless you are self employeed). This is what my reading of the guide tells me. I am a little confused about this myself. Sushil-ACCA / adityaisukapalli, have you been thru this. Could you kindly explain?

Similar post http://www.immigrationboards.com/viewtopic.php?t=72777
You are not self employed, if you are operating LTD company and taking salary as director.

if u dont know answers please dont advise incorrect , wait for others to reply

srirags · Post by **srirags** » Sat Feb 26, 2011 8:43 pm

As per the guidance note, dividend vouches + pay slips + bank statments should be enough.

Refer to the guidance note.

cheers,

Sushil-ACCA · Post by **Sushil-ACCA** » Sun Feb 27, 2011 11:31 am

ONCE dividend comes in picture case worker asks for accounts and income certificate immediately - they have seen now many cases like this

if applicant is for premier service 14 days notice to provide

in post 99 % refusal if income certificate and accts not submitted

only 1 % happy ending without IC and accts in case of dividend

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IT contractor Limited Company

IT contractor Limited Company