Self Employment- Income payment Date & Employment Perio

[HomeRun21]

Hello there,

Hope someone can please clear my doubts with regarding to self-employment for
Tier I (General) Extension. I have been doing some self-employment inorder to cover my shortage to my earnings
from my salarised employment.

----------------------
My Status:
----------------------

Visa expire's date - 10th May 2012.
HMRC UTR received - 5th April 2012.

Earning period for self employment - 1st April to 30th April 2012.
Invoice date - 27 April 2012.
payment date into my Bank - 5th May 2012.

Earnings claming period - 1st May 2011 to 30th April 2012.

----------------------
My Queries are:
----------------------

UKBA website: If you are submitting self-employed earnings
If you are claiming points for self employed earnings made in the UK, you must provide documents to show
that you are registered as self-employed and were registered as self-employed for the period when the money
was earned.

a. In my case, I received my HMRC UTR only on the 5th April 2012,
but I have been working from 1st April 2012. Is it a problem?
(Note: Corrected the date, it was a typo)

b. The payment date credited to my bank will be 5th of May 2012,
so is it going to cause any problem as I will be claiming my
earnings for the period between 1st May 2011 to 30th April 2012?

c. My earning from my self-employment are
Total Gross Income - £2000
Total Expenses - £200
Total Net Profit(Before Tax) - £1800

So my Total Earnings will be 'Total Net Profit(Before Tax)' from my self-employment as stated above plus my Total Gross Salary(Before Tax) from my salarised income, am I right in this?

P.S. I will be filing a Tax Return for the above in the comming months.

Am I doing everthing right based on the above facts?
Hope someone can please confirm the above?
Cheers

[shahjee11]

Hello there,

Hope someone can please clear my doubts with regarding to self-employment for
Tier I (General) Extension. I have been doing some self-employment inorder to cover my shortage to my earnings
from my salarised employment.

----------------------
My Status:
----------------------

Visa expire's date - 10th May 2012.
HMRC UTR received - 5th April 2012.

Earning period for self employment - 1st April to 30th April 2012.
Invoice date - 27 April 2012.
payment date into my Bank - 5th May 2012.

Earnings claming period - 1st May 2011 to 30th April 2012.

----------------------
My Queries are:
----------------------

UKBA website: If you are submitting self-employed earnings
If you are claiming points for self employed earnings made in the UK, you must provide documents to show
that you are registered as self-employed and were registered as self-employed for the period when the money
was earned.

a. In my case, I received my HMRC UTR only on the 10th April 2012,
but I have been working from 1st April 2012. Is it a problem?

First of all, put your records straight. You said above in "My status" that You received UTR on 5th April and here you said you received it on 10th? Which one is correct? In either case, it is not an issue.

b. The payment date credited to my bank will be 5th of May 2012,
so is it going to cause any problem as I will be claiming my
earnings for the period between 1st May 2011 to 30th April 2012?

In my opinion, this might be a problem because the date you received the payment is out of the period claimed. Wait and see what Gurus say about this.

c. My earning from my self-employment are
Total Gross Income - £2000
Total Expenses - £200
Total Net Profit(Before Tax) - £1800

So my Total Earnings will be 'Total Net Profit(Before Tax)' from my self-employment as stated above plus my Total Gross Salary(Before Tax) from my salarised income, am I right in this?

P.S. I will be filing a Tax Return for the above in the comming months.

Yes you are right here.

Am I doing everthing right based on the above facts?
Hope someone can please confirm the above?
Cheers

Please see my answers in green above.

[HomeRun21]

Hi shahjee11, Thanks for the response. With regards to my queries:

a. It was a typo and I have corrected the date.

b. Hmm..thats was my real concern, but say if you are a self-employed you expected to be paid only after raising the invoice and It will normally take's a week or so.

Can any of the experts/accountants in this forum please clarify my doubts.

Thanks.