Tier 1 extension - limited company - financial statement

[sureshaverineni]

Hi Guys,

I am applying for my tier 1 extension on april 10th.

I have a limited company and I am submitting my payslips, dividend vouchers, personal and business bank statements. Payslips from May 2011 to March 2012.

Do I need to submit company's financial statements showing profit and loss for this period ?

Yesterday I have asked my accountant about this and he told I don't need to submit and he can't give that in the middle of the year and he can only give it after May 2012.

Can you please clarify me on this.

Thanks
Suresh

[AccountantMatthew]

If you are claiming earnings for profits retained in the business then you would have to send in a set of accounts.

Otherwise I would see it as superfluous (if you are just claiming salary and dividend) ..... but I am taking a theoretical approach here so if anyone has any anecdotal evidence to the contrary then I'm happy to be corrected.

Regarding the accounts, a set of management accounts would need to be drafted to cover your earnings period (so basically another set between the dates you are claiming so some kind of back up can be provided to the claim).

[QuickSam]

Do I need to submit company's financial statements showing profit and loss for this period ?

I guess your accountant is right about this.

Applying with a previous P/L statement just supports your case but is not mandatory if you are applying as 'Employed' and you have other relevant documents.

[sureshaverineni]

Thanks Matthew and Sam for your quick responses.

I am employed so, I suppose don't need to submit the doc.

[vibhorjain84]

Hi Suresh,

Its quite interesting to find your situation exactly alike mine where in I have to apply from May-2011 - Mar-2012 payslips and am also having a ltd company. To add on to it, I have my visa extension on 10th april as well

I need some basic help and thought of going through old forums discussions, could you please suggest, how you prepared your Payslips / Dividend voucher. How can I get the stamps for ltd company name, if they are necessary?

This is what I did for the payslip:
On an A4 sheet:
company name/address on right top
employee name/address on left top
Payslip contents in the middle.
and the Director sign at the bottom right.

Please share the template you used for Dividend Declaration?

-VJ

[Sushil-ACCA]

Without pl a/c it raises doubt and delay in getting visa

[aka189]

I did submit my P&L and Balancesheet for the earnings period even I was claiming only salary points to be on safe side.

But I have seen so many people didnt submit and got visa approved. So it just depends what case worker think.

Having said that if your salary + dividend is enough for points then there's no need to submit.

But if you submit extra documents it wont hurt.

[sureshaverineni]

Thanks for the responses.

My accountant is very adamant to provide the P/L statement for the current year and he also told me that many of his clients have applied for various visas without the P/L statement for the current year and were successful.

So, I can't help myself on this but, just to go ahead with the document.

Thanks
Suresh