Tier 1- Sole trader -Doubts

[sarangan0072000]

Hi Guys,

Im planning to apply for HSMP end of March 2011, I do get the income from full time employment and Self employment (as a sole trader).

1.What documents I should produce to HO to show my self employment earnings?

2. Is it ok if I run my self employment business in my personal bank account?

3.Still I haven't received my UTR number but I have the receipt for the paid Class 2 NI number, is it ok if I submit only the Class 2 NI contribution.?

Pls advice
thx

[sanjeev.x.kumar]

Hi Guys,

Im planning to apply for HSMP end of March 2011, I do get the income from full time employment and Self employment (as a sole trader).

1.What documents I should produce to HO to show my self employment earnings?

Bank statement showing the payments credited to ur account, all the invoices with all the client details for all payments received, letter from your CA.

2. Is it ok if I run my self employment business in my personal bank account?

there is no harm, but business bank acct is always recommended.

3.Still I haven't received my UTR number but I have the receipt for the paid Class 2 NI number, is it ok if I submit only the Class 2 NI contribution.?

yes, it is perfectly fine if you submit only the Class 2 NI invoice (original).

Pls advice
thx

[sarangan0072000]

Thx for your prompt reply Sanjeev. This is my Table of Contents , what do you think of it? anything to add or to remove.


TABLE OF CONTENTS
1. Application form
2. Supporting Documents

A. AGE -Passport

B. QUALIFICATION
Original cerificate of award
Academic transcript
Academic reference from institution

C. PREVIOUS EARNINGS

I.SALARIED EMPLOYMENT
Emplyment contract
Pay slips
Personal Bank statment

II. SELF EMPLOYMENT
UTR Number
Class 2 NI payment receipt
Liability Insurance
Accountant Lettter
Invoices
Invoice Summary
Profit & Loss Account
Balance Sheet
Tax return
Personal Bank statment

D. UK EXPERIENCE
Academic reference from institution

E. ENGLISH LANGUAGE REQ
Original cerificate of award
Academic transcript
Academic reference from institution

F. MAINTENANCE (FUNDS) - Personal Bank Statement

[sanjeev.x.kumar]

Thx for your prompt reply Sanjeev. This is my Table of Contents , what do you think of it? anything to add or to remove.


TABLE OF CONTENTS
1. Application form
2. Supporting Documents

A. AGE -Passport

B. QUALIFICATION
Original cerificate of award
Academic transcript
Academic reference from institution

C. PREVIOUS EARNINGS

I.SALARIED EMPLOYMENT
Emplyment contract
Pay slips
Personal Bank statment

II. SELF EMPLOYMENT
UTR Number
Class 2 NI payment receipt
Liability Insurance
Accountant Lettter
Invoices
Invoice Summary
Profit & Loss Account
Balance Sheet
Tax return
Personal Bank statment

D. UK EXPERIENCE
Academic reference from institution

E. ENGLISH LANGUAGE REQ
Original cerificate of award
Academic transcript
Academic reference from institution

F. MAINTENANCE (FUNDS) - Personal Bank Statement

It looks good to me, but you would definitley want this to be double checked and make sure that all the documents are original and up to date.

[sarangan0072000]

Thx mate