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Is you or wife is not dependent of other, You said both or primary T1 visa holder.?O_Relly wrote:Hello,
My wife and myself are primary Tier1 visa holders and are both into contracting and are directors of the same Ltd company.
At the time of our Tier 1 extension, the documentary evidence required is payslips and dividend payout vouchers, which both of us will provide.
But since both of us are on different contract rates, is it not required for us to show how much income each one of us bring into the company ? For this I can provide the business bank account statement, but there is no requirement or mention of this document in the policy guidelines?
Has anybody been in a similar situation? Any advice and suggestions would be much appreciated.
Thanks,
OR
You dont have controlling share in the company as your shareholding is less than 51 %.O_Relly wrote:@HSK
No, we both have our own individual Tier 1 visas. We both have 50% of shares each in the company.
What do you mean when you say 'who controls the company'?
I do not think it is necessarily quite that simple. Even with 50% each of the shares it is possible that one of the two of them has control.You dont have controlling share in the company as your shareholding is less than 51 %.
-: in which case the person using that casting vote would be able to control the company.13.—(1) If the numbers of votes for and against a proposal are equal, the chairman or other director chairing the meeting has a casting vote.
Is this mentioned in the policy guideline document? Kindly point me to a reference please? I am unable to find this in the policy guidelines doc.As per HO guidance you can use the dividend income only if you are the controlling shareholder and running the management of the company.
Section 101 explain this in the new guidance. In the old guidance documents they used the control wording but looks like now they replaced with active. But in reality it is same thing. Agree with John it is not quite simple, so better to avoid such situations where case worker can raise this as issue.O_Relly wrote:@HSK,
Is this mentioned in the policy guideline document? Kindly point me to a reference please? I am unable to find this in the policy guidelines doc.As per HO guidance you can use the dividend income only if you are the controlling shareholder and running the management of the company.
John wrote:O_Relly, I must admit that I had always thought that the same sort of definition applied for Tier 1 (General) and as regards the definition of Self-Employment for EU applications, but on a further look that appears not to be the case. Certainly for EU cases control of the company is needed.
HSK Accountancy Services has already quoted the UKBA document and having made a search of that document, the word "control" appears nowhere.
A Limited Company, owned 50% each by two people, and where both are Directors, and where both are "active in the day-to-day management", for both of them both salary and dividends can be counted.