Director of Ltd Co. Vs Self Employed

[kans75]

Hi
I am a director of ABC LTD. I understand that for HMRC tax purpose, Me and ABC LTD are treated as two different entities.

My understanding after going through these forums is that that HO still classifies people as self employed, if they are sole director of a company which has left me in a confused state.

My earnings are a combination of salary(1st job)+dividends ONLY(ABC company) and have more income left in my company's account after dividends declaration.

My query:
1.What category do I come under? i.e,Self employed or employee for HO.

2.Is there any problem in showing only dividends from ABC LTD as earnings(I do have enough surplus to pay tax)?
I don't take salary from ABC LTD as these two(sal+div) fulfil my earnings requirement.

3. Has any faced any similar situation and applied?

All your responses will be of great help.

Rgds
K

[jacob79]

Hi Kans75,

I have applied on Dec 2nd at the Solihull PEO with a similiar situation.
1.To my knowledge UKBA considers the earnings through LTD company as "Self Employed".
2. As long as you qualify for your points, it should not matter whether you have taken salary or dividend. But i am not sure on this. May be any seniors can help on this.
3. Yes. I applied on the Dec 2nd and was successful.

Hope this helps you. Good Luck!!!!


Regards
Jac

[arunb4uin]

hi jacob79,

I am also going to Solihull PEO this month and I run my own Limited company.

So please could you list all the docs that you submitted especially from the company side (self-employed docs as HO is looking for it these days).

Please reply as it would help in getting my visa processed.

Thanks in advance.

[mrite123]

Hi Jac

Could you please share ur exp with caseworker and what document they asked you.. for self employed.

thanks
RP

[jacob79]

Hello All,

As far as the documents for the earnings through LTD company goes , you need
1. Pay slips
2. Dividend Vouchers
3. Business bank statements
4. Invoices
5. Profit and loss statements
(All signed and stamped by your accountant)
6. Certificate of Incorporation
7. VAT registration
8. PAYE registration(UTR)

Hope this helps

Regards

Jac

[mellon_21]

[quote="jacob79"]Hello All,

As far as the documents for the earnings through LTD company goes , you need
1. Pay slips
2. Dividend Vouchers
3. Business bank statements
4. Invoices
5. Profit and loss statements
(All signed and stamped by your accountant)
6. Certificate of Incorporation
7. VAT registration
8. PAYE registration(UTR)

Hope this helps

Regards

Jac[/quote]

If you are intending to prove earnings from dividends only, you do not need all the above. You will need
1. Dividend vouchers
2. Personal bank statements (that include the said amounts)
3. An accountant letter will a summary of the dividend dates and amounts

Regards,

[jacob79]

Hi,

I think you can get rid of Payslips and Paye registration document , if you claim earnings from the dividends only. But I do believe that you would need the other documents as it would prove your business of your company and the money flow to your company.

Regards

Jac

[kans75]

Hi,

I think you can get rid of Payslips and Paye registration document , if you claim earnings from the dividends only. But I do believe that you would need the other documents as it would prove your business of your company and the money flow to your company.

Regards

Jac

Hi Jacob
Thanks for your reply. As mellon_21 stated many people suggest only dividend vouchers and accountant letter confirming the same(dividend and invoice details) with personal bank statements. Could the reason be that HO needs only 2 evidence of earnings and would the above suffice those requirements?

Do i still need to submit my business bank statements and invoice?

Any seniors pls. advise.

Rgds
Kans