Limited Copmay directors

kar_kct · Post by **kar_kct** » Sun Apr 17, 2011 9:18 am

I am an IT contractor running a Limted company . I have gone through all the limited company questions and non of them answered my concern though it was frequently discussed.My queries

1. Do Limited company directors are self employeed and need to register with HMRC as self employeed? I am taking salary 1000 GBP and dividend as employee . I pay PAYE/NIC every month on my salary.
2. If I show myself as employee of my company for extension still should I enclose my business details.If yes ,what are the documents I should show?
3.Should I disclose the client details?

Post by **geriatrix** » Sun Apr 17, 2011 9:47 am

kar_kct wrote:1. Do Limited company directors are self employeed and need to register with HMRC as self employeed? I am taking salary 1000 GBP and dividend as employee . I pay PAYE/NIC every month on my salary.

If you draw a "salary", you are not self-employed.

When you register a new company, the Companies Registrar will pass on the details to HM Revenue & Customs (HMRC). You must also contact your own local HMRC office to let them know that your company exists. If you do not do this, you may have to pay a penalty. Also, depending on your business services/products your company may be liable to pay corporation tax / VAT, for which HMRC is the relevant authority.

kar_kct · Post by **kar_kct** » Mon Apr 18, 2011 7:34 am

Thanks Mehta, I am paying VAT every three months and due for corporation tax this year. Regarding documents,should i submit business details documents?
I am planing to submit following docs

Payslips
Personal bank statement
Dividend vouchers
Accountant Letter
Covering Letter

Is these docs enough?

CPradeep · Post by **CPradeep** » Fri May 06, 2011 4:36 pm

The documents mentioned is perfect for the visa if you are limited company director .
but make sure accountant letter has all the salary and dividends you have taken .

If you are employed

Go ahead you will get your visa ..I got the visa yesterday as a limited company director .

kingfahad35 · Post by **kingfahad35** » Sun May 08, 2011 6:31 pm

kar_kct wrote:I am an IT contractor running a Limted company . I have gone through all the limited company questions and non of them answered my concern though it was frequently discussed.My queries

1. Do Limited company directors are self employeed and need to register with HMRC as self employeed? I am taking salary 1000 GBP and dividend as employee . I pay PAYE/NIC every month on my salary.
2. If I show myself as employee of my company for extension still should I enclose my business details.If yes ,what are the documents I should show?
3.Should I disclose the client details?

If u hv LTD company or u r director of LTD company
THEN its mean u r EMPLOYEE of ur xx LTD company.....you can take pay on payslip + can claim divident as well........

NO, need for any doc's if u r employee of company as mentioned above
(bcz HMRC got ur NI + VAT + TAX contribution etc) (nothing to do with HO)

If u r taking Pay on payslip then there is no need to disclose ur clients details .

in addition :
LTD company in not ur property .... u r only employee of company / or director of company....and u have share in ur company...share=divident in HO terms

tier1ext · Post by **tier1ext** » Sat Jul 23, 2011 4:36 am

Case worker did ask me about the client details and invoice summary though I am a limited company director, working as a contractor.

kar_kct · Post by **kar_kct** » Wed Aug 03, 2011 9:46 pm

Hi

Please post the docs u have submitted as limited company director. It would be of great help for every one. Waht are the questions from case worker and did u got the visa on the same day?

daythatnevercomes · Post by **daythatnevercomes** » Thu Aug 04, 2011 11:24 am

Hi,

I had applied as a director of my limited company.

Following were the docs:

1- Salary slips for 12 months
2- Personal bank statements for 12 months
3- Dividend vouchers for the dividends taken and sigened by the director (Myself).
4- Letter from the accountant stating the break up monthwise and dividend. The accountant has to be a memebr of one of the bodies stated in the guidance doc.

Applied via same day service. But they kept my docs for further checks. (They do it frequently if you apply as the director of your own company).

I got my approval in 20 days thereafter

.

all the best my friend!

xx

kar_kct · Post by **kar_kct** » Sat Sep 10, 2011 7:57 am

I like to share my success story with PEO application for Ltd company directors

Appoinment at croydon.
Applicant and one dependant

Two quick checks about application form version and passport details - 10 mins
Payment uisng debit card - 10 mins ( I informed the bank abt the expected payment)
Initial application check and Bio metrics - 30 mins
20 mins of wait before case worker called.
Applied as employed with salaryslip, dividend and personal bank statements. Case worked disagreed with employed category
and considered selfemployed.
Fortunatley I carried all the company related documents. Case wroker asked for
1.Business bank statements
2.Invoices
3.Company accounts( should cover the claim period)
4.Letter from accountant
5.Client contract

Didnt ask for marriage certificate,degree certificate and english language proof. She told sometimes system will not have clear
information about previous applications only in that case it is required. But we dont know that so i consider that
as mandatory document anyway.

Personal back statement is used for main+depedend fund maintenance. 800+533=1333Â£ for three months (Visa fee is 1950Â£ pounds maintenance fund will vanish in a minute. I dont know how they decided the amounts:)

I also carried
company incorporation certificate
covering letter
p60
HSMP letter

She took one and half hour with the documetns and finally approved my case.

I like to thank everyone in this forum for the valuble information provided.

d193068 · Post by **d193068** » Sat Sep 10, 2011 12:52 pm

Kar_Kct ,
Congratulations for your Tier1 Extension.
Well your case seems to baffle a bit. If you do not mind , can you help answering couple of questions?
How come you were regarded as Self-Employeed? Are you sole trader ? Did you mention about the UTR for yourself and for the company as self employed?.
What about Class 2 NI, which you require to be paying for self-employed?

Regards,
D

Sushil-ACCA · Post by **Sushil-ACCA** » Sat Sep 10, 2011 9:37 pm

kar_kct wrote:Thanks Mehta, I am paying VAT every three months and due for corporation tax this year. Regarding documents,should i submit business details documents?
I am planing to submit following docs

Payslips
Personal bank statement
Dividend vouchers
Accountant Letter
Covering Letter

Is these docs enough?

list of sales invoices with name and address of yr clients

d193068 · Post by **d193068** » Mon Sep 12, 2011 6:01 pm

d193068 wrote:Kar_Kct ,
Congratulations for your Tier1 Extension.
Well your case seems to baffle a bit. If you do not mind , can you help answering couple of questions?
How come you were regarded as Self-Employeed? Are you sole trader ? Did you mention about the UTR for yourself and for the company as self employed?.
What about Class 2 NI, which you require to be paying for self-employed?

Regards,
D

Would appreciate if anybody can throw some light on this please?

kar_kct · Post by **kar_kct** » Thu Sep 15, 2011 8:08 pm

Find my comments inline

How come you were regarded as Self-Employeed?
Contractors with limited company setup are treated as self employed but differently then proper self employed.. This is to make sure money is in ur personal account in proper means.

Are you sole trader ? No

Did you mention about the UTR for yourself and for the company as self employed?. No.

What about Class 2 NI, which you require to be paying for self-employed?
I am not paying Class 2 NI ,

sreblog · Post by **sreblog** » Sun Sep 18, 2011 7:44 pm

What if have no salary slips, as I am taking the basic salary + dividents? Can I show a salary on company letter showing each months Salary transactions?

Sushil-ACCA · Post by **Sushil-ACCA** » Sun Sep 18, 2011 8:56 pm

sreblog wrote:What if have no salary slips, as I am taking the basic salary + dividents? Can I show a salary on company letter showing each months Salary transactions?

YES every month u should credit yr personal a/c and

accountant of company can certify it

sreblog · Post by **sreblog** » Sun Sep 18, 2011 9:46 pm

Sushil-ACCA wrote:
sreblog wrote:What if have no salary slips, as I am taking the basic salary + dividents? Can I show a salary on company letter showing each months Salary transactions?
YES every month u should credit yr personal a/c and

accountant of company can certify it

Thanks you very much Sushil, just one more question can we also show expenses claimed from the company as earnigs?

Sushil-ACCA · Post by **Sushil-ACCA** » Sun Sep 18, 2011 10:05 pm

sreblog wrote:
Sushil-ACCA wrote:
sreblog wrote:What if have no salary slips, as I am taking the basic salary + dividents? Can I show a salary on company letter showing each months Salary transactions?
YES every month u should credit yr personal a/c and

accountant of company can certify it
Thanks you very much Sushil, just one more question can we also show expenses claimed from the company as earnigs?

expenses claimed back is reimbursement, not earnings, so no way u can claim as earning , any earning on which applicant pay tax is considered by HO

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Limited Copmay directors

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