Tier1 extension self employment

[rpsarangi]

Hi all .. One of my friend said that HO is refusing 90% of the application who are self employed( sole trader).Since I fall under that category I am scared. Do anybody have any knowledge about this news? Or any information?
Please reply.
Thanks

[vinividivici]

if u paid tax to HMRC on the declared amount given to HO when u applied for T1 initial, then u should be fine.

if u didnt then u can thank lady luck cuz u will need her again in ILR

[John]

One of my friend said that HO is refusing 90% of the application who are self employed( sole trader)

One of my friends thinks there is a 90% chance your friend is inventing that statistic! Need I say more?

Seriously I would doubt that even UKBA keep such detailed statistics.

[rpsarangi]

Yes I have paid tax for the amount I claimed in my initial application and my that document is in order.. I will also provide HO with the tax document for past 2years along with the tax filing of the current year.. Does anybody have any idea in case anything happening with sole traders going for extension of tier 1??
Thanks

[John]

rpsarangi, if all the tests have been passed, and you can prove it, there is no reason for your visa application to be refused.

[rpsarangi]

thanks for replies...

[rajani1981]

thanks for replies...

check your PM

[karancat]

Dear Friends, A very quick query in regards to filing my tax returns.I am currently on a Tier 1 visa and my visa is due for renewal on the 13th of April 2013. When I was initially granted the visa I had shown income from salary and self employment.The income was satisfactory and the HO granted me the initial visa. Now I need to file my tax returns on the amount.This is for the tax year 2010-2011.The last date for filing my tax returns was 31 Jan 2012 which means that I already have a penalty of £100.My query is, if I incurred losses during the last year which happened after the visa was issued will the HMRC have any issues with it.Say for example my annual income including salaried and self employed was £52000 and if I incurred losses of around £22000 ( which I intend to declare to the HMRC), will it be likely that they might set an enquiry in this case? These were genuine losses for the business and the monies were refunded to the clients.Moderators and gurus please advise me on this because I intend to file my taxes before 30 April 2012 because the penalty increases to £10/day after that.

[rpsarangi]

To my understanding when you applied for initial visa you must have shown the profit to the HO so you need to file tax for the profit shown. I don't think that you can say loss when you have already shown profit in some amount .

[shahjee11]

Dear Friends, A very quick query in regards to filing my tax returns.I am currently on a Tier 1 visa and my visa is due for renewal on the 13th of April 2013. When I was initially granted the visa I had shown income from salary and self employment.The income was satisfactory and the HO granted me the initial visa. Now I need to file my tax returns on the amount.This is for the tax year 2010-2011.The last date for filing my tax returns was 31 Jan 2012 which means that I already have a penalty of £100.My query is, if I incurred losses during the last year which happened after the visa was issued will the HMRC have any issues with it.Say for example my annual income including salaried and self employed was £52000 and if I incurred losses of around £22000 ( which I intend to declare to the HMRC), will it be likely that they might set an enquiry in this case? These were genuine losses for the business and the monies were refunded to the clients.Moderators and gurus please advise me on this because I intend to file my taxes before 30 April 2012 because the penalty increases to £10/day after that.

Correct me if I am wrong, you claimed points for £52000 income and your visa was granted. Later on when you file the tax return for that year, you declare your income to be £30000 which is £22000 less than what you claimed points for. I can appreciate that these were genuine losses from what you said but you need to think over this yourself. How can you justify yourself for securing points for an income of £52k which you have not actually earned?

[AccountantMatthew]

Firstly take the UKBA consideration out of the equation and get your tax administration up to date.

Get the 2010-11 tax return filed ASAP. As you say, HMRC will have the power to add £10 per day from 1st May.

You can try to reduce your payments on account by giving HMRC the reasons why. However do be realistic in the application for reduction. This is done on the SA return.

The other alternative is to contact HMRC to negotiate a payment plan - contact details are on their website. Communicating with them as early as possible is the key. Then get your tax return for 2011-12 in as easrly as you can.

No-one can say whether you will be selected for any enquiries; if the situation is as you described to HMRC then you have nothing to worry about, you just answer the questions.

Finally, unless you are one yourself, it's best to get someone else with experience to deal with your tax affairs as they appear more complex that the average.