short on earnings

[msk1977]

Hi All,
With my current earnings, I will be falling short on my earnings by about 4K to get extension in Sep 2012.

So I am planning to work part time during weekends. If I make some money by providing online trainings, in this case, what documents I need to show as proof of this earning ?

Has anyone is similar situation before ?

Thanks for any info.

[canon123]

1. register as self employed with HMRC
2. Pay NI Contributions
3. Invoice your clients - they will pay you
4. Consult an accountant and he will prepare P&L Accounts and will provide some docs about your earnings on self and perm employments when you are applying for the visa

1st step is when you start training, register yourself as self employed and start paying NI class 2 contributions

Hope it helps!! wait for seniors to reply

[Jbeez9]

I am in a similar situation.

I have recently applied for self employment status, I finally got My UTR code.

Do I need to pay Class 2 NI insurance right away or can I wait to pay for the tax year.

What other docs do i need to include with my Tier 1 extension as I am applying under self employment status.

Thanks any help on this matter would be great

[canon123]

Hi Jbeez,

Once you register for self employed. you will get a letter from HMRC to pay NI 2 Contributions. You could either do it online or goto nearest post office and pay it.

My suggestion is it's good if you pay it in post office, becoz they will stamp the GIRO and will give you a receipt.

You will get a letter to pay NI2 contributions shortly.

Hope this helps!!

[Jbeez9]

Canon123,

I have received my utr letter, but have not recieved a statement to pay Class 2 insurance.

What will happen if I don't receive the statement?

How can I pay Contributions if I have not received the letter?

Help on this would be great..

[nks]

I am in same boat but the difference is marginal, which I could cover with following options :

1. Sell my leaves. I can do so with max 5 leaves, which alone could suffice.
2. Sell my stock options.
3. Expect some bonus.

Wondering if above could be counted for my earnings. For 3, I am more or less sure but 1 & 2 are ambiguous. Seniors, please advise.

Thanks,
nks

[AccountantMatthew]

jbeez9 - For more info on class 2 NI in general see:

http://www.hmrc.gov.uk/working/intro/class2.htm

Regarding paying them, more info can be found here:

http://www.hmrc.gov.uk/payinghmrc/class2nics.htm

Direct debit is often the easiest method. The forms can be downloaded from the HMRC site - you can find them via the second link pasted in this post.[/url]

[mulderpf]

I am in same boat but the difference is marginal, which I could cover with following options :

1. Sell my leaves. I can do so with max 5 leaves, which alone could suffice.
2. Sell my stock options.
3. Expect some bonus.

Wondering if above could be counted for my earnings. For 3, I am more or less sure but 1 & 2 are ambiguous. Seniors, please advise.

Thanks,
nks

1 = No
2 = No
3 = Yes

[Jbeez9]

I have been self employed since June.

I have not received a statement for Class 2.

According to http://www.hmrc.gov.uk/payinghmrc/class2nics.htm I wont receive a request until October.

I go for my Tier1 extension Aug 31st. Will they understand That I have not yet paid my Class 2 insurance.

What should I do?????

Please help..

[nks]

I am in same boat but the difference is marginal, which I could cover with following options :

1. Sell my leaves. I can do so with max 5 leaves, which alone could suffice.
2. Sell my stock options.
3. Expect some bonus.

Wondering if above could be counted for my earnings. For 3, I am more or less sure but 1 & 2 are ambiguous. Seniors, please advise.

Thanks,
nks

1 = No
2 = No
3 = Yes

Thanks for your reply. Is this because 1 & 2 do not show in payslip or there is documented guidelines from UKBA on this?