Tier-1 extension - P/L doesnt cover the 12 month earning

[lovnishs]

Hello,

My brother is going to apply for tier-1 extension. I have two questions:-

1. He got the limited company. HIs company's accounting period doesnt cover the whole 12 months period. Thus P/L statement is created backdated. Could anyone confirm what can be done about this. Is P/L statement necessary to be provided as a proof?

2. Can dependant staying in India could be applied for visa along with main applicant who is living in UK with autorization letter?

The Limited company documents that he holds:-
1. p/L accounts for Nov 2010 - Oct 2011. Will be applying visa in May.
2. Company invoices
3. Accountant letter confirming gross/net profit.
4. Business bank statement confirming invoices credited

Additional docs
4. VAT return statement
5. PAYE form
6. Employer's/public liability insurance

Please could you confirm regarding my above 2 questions

Thanks in advance.

Regards,

[aliq09]

Hello,

My brother is going to apply for tier-1 extension. I have two questions:-

1. He got the limited company. HIs company's accounting period doesnt cover the whole 12 months period. Thus P/L statement is created backdated. Could anyone confirm what can be done about this. Is P/L statement necessary to be provided as a proof?

2. Can dependant staying in India could be applied for visa along with main applicant who is living in UK with autorization letter?

The Limited company documents that he holds:-
1. p/L accounts for Nov 2010 - Oct 2011. Will be applying visa in May.
2. Company invoices
3. Accountant letter confirming gross/net profit.
4. Business bank statement confirming invoices credited

Additional docs
4. VAT return statement
5. PAYE form
6. Employer's/public liability insurance

Please could you confirm regarding my above 2 questions

Thanks in advance.

Regards,

Hi ,

will concentrate on the following question

1. He got the limited company. HIs company's accounting period doesnt cover the whole 12 months period. Thus P/L statement is created backdated. Could anyone confirm what can be done about this. Is P/L statement necessary to be provided as a proof?


P/L depends on the circumstances and if you go through post mostly it was not required but in some post CW has asked for them . P/L goes for the company period ( 1 year) and as per home office i haven't find any particular guide line that how much period it must covered i.e company account 1 year or till the date of application submitted.


Please any senior person related to accounts can answer it well but so far 54 people has read this post and no one is addressing this important issue .

I really hope this will give you some idea but i haven't concluded any thing here as i am just a simple man like you

Thanks

[lovnishs]

Thanks Ali,

If anyone senior could advise on the P/L period please. Do I need to provide this as a mandatory earning proof?

Still trying to find out answers to my above two questions.

[lovnishs]

Please could anyone answer my queries.

TIA

[aliq09]

Please could anyone answer my queries.

TIA

Hi ,

Kindly any senior member reply ... as it's quiet importnat question and i haven't come across a direct answer even here in this board. To be simple what accounting period HM consider .. your company closing year or when you are applying for extension ... I known , P/L are mostly asked by " self employed " people but it's worth to known the exact time line ...

[lovnishs]

I think no-one got answer to my question unfortunately...

I know most of the people try to keep the same limited company's accountancy period as their time of visa application.

However in my brother's case its different as his company's accounts are till November & he is applying visa in May.

So I thought if he could provide the P/L for the company's accounts period & provide invoices/Business bank statement for rest of months thus covering whole previous earning period.

Just wanted to confirm with seniors on this forum if its okay to do so...

[Sushil-ACCA]

PL a/c should be for 12 months or less will ok so long it gives sufficient earning to get threshold

yes PLA/C is important part of accounts

[lovnishs]

so how can person shows an earning for the months that are not covered as per last p/l account ?

Please note this is the case when Claim Period (May 2011 to May 2012) is different than Company accounts Period-P/L(Nov 2010 to Nov 2011)...

Any comments...

[AccountantMatthew]

Draft a set of accounts covering the earnings period.

These will not be submitted to either Companies House or HMRC but would be for presentation to the UKBA.

[lovnishs]

Cool Thanks Matthew,

This looks like a valid solution.

However, I am not sure if it would matter, if UKBA tries to perform verification from HMRC regarding the company account then there may be an issue as HMRC wont be knowing about the set of accounts created for Earning period as those were not submitted to them ?

[AccountantMatthew]

Your accountant can explain the situation in his/her letter to UKBA.

[lovnishs]

Great advise !!!

Thanks

[AccountantMatthew]

Not a problem.

All the best!

[aliq09]

Not a problem.

All the best!

Hi ,

I was given the following documents from my accoutant

1) Account covering 12 months submitted to HMRC

2) Corp Tax return

3) Tax return ACK from HMRC

Additional Provisional accounts showing the period JAN to March ..

Do he needs to explain any thing further for provisional accounts ?

[nkanalyst]

Congrats for getting your extension.

Can you please tell me whom did you consult for your application? I mean you said you had immigration services. Also do they book an appointment for behalf of you?

Thank you,

NK.