I would be greatful to you if you could give me an advice. My situation will be the same as most of the freelancers. I am a freelancer and had a Limited company. I am the only Director for my comapny. My ILR due is in Mar 2012. Still long way to go but I have to take some precautions about my earnings now.
I get my earnings as a salary and dividends. I take very little as a salary (roughly around £500 per month) to avoid NI and Income Tax. Rest I take them as dividends. But the problem is, I regularly take some amount from my business account as a advance. Once my salary and dividends are declared, I take the remaining balance from my business account. So my payslips, dividend vouchers dont match with my bank statements. Here are the list of my questions. Please give me advice
- As per UKBA, I have to show two proofs for each earnings. That means I have to show Two proofs for my personnel salary and two proofs for my Dividends. What proofs can I show in my case. As said above, my payslips, Dividend vouchers dont match with Bank statements
Presently I am not paying any NI. Because, I am paying myself below the NI threshold as a salary. I am submitting PAYE/NIC for every quarter as Nil. Will it be a problem
I was unemployed in year 2009. I did not have P60 for that year. Will it be a problem
I need to show my earnings minimum £35,000 to qualify. At present my earnings (i.e. my company turnover) is around £41,000. But as a limited company, They do consider only salary and dividends. But dividends are declared on net profits (i.e. My company income-expenses-salary-corporation tax). If I exclude all my expenses, corporation tax from my earnings, my earnings will fall below £35,000. Can you please advise me what to do on this case
I have two dependents (wife and daughter). I heard that, I need to show atleast 2 years address proofs for my wife. But unfortunately, all bills are on my name and no bills on her name. She had a bank account. But did not have all bank statements in last year.
Thank you very much
Bunti