Tier 1 (G) extension with lesser than 12 months statements

chary · Post by **chary** » Thu Jul 05, 2012 9:58 pm

Hi Senior members,

I have gone through your details, they are really informative. Thanks for that. I did not get pointed question for my scenario and hence this new post.

My question is as follows. I have started a company 3 months back and am doing contracting since then and my visa comes for renewal in the next 6 months. This means that I will be having earnings details of 8 months when I go for my Tier 1 extension.

I will be having enough income (Salary + net Dividends) for my extension eligibility. I would like to ensure that I have got all the relevant documents from my chartered accountant for my extension.
They are
1. Salary slips (8 months)
2. Dividend Vouchers
3. Bank Statements (8 months)
4 Statement from registered accountant mentioning/confirming my salary and net dividends from my own limited company where I am the sole director.

Should I need to add any additional documents regarding my income ?

Please let me know if there will be any particular thing I need to be aware about as I will be submitting only 8 months statements for claiming my income eligibility.

Thanks in advance,
Chary

gaurav76.5 · Post by **gaurav76.5** » Fri Jul 06, 2012 9:59 am

Thats Ok..in addition you would need company Accounts for that period, business bank statement, business turnover. Also ask the accountant to provide letter showing the breakdown of salary and dividend which has been paid including the dates on which it was paid into your bank account..

adityaisukapalli · Post by **adityaisukapalli** » Fri Jul 06, 2012 1:29 pm

gaurav76.5 wrote:Thats Ok..in addition you would need company Accounts for that period, business bank statement, business turnover. Also ask the accountant to provide letter showing the breakdown of salary and dividend which has been paid including the dates on which it was paid into your bank account..

You don't need to submit any Company accounts, business bank statements, turnover etc. Submit them only IF they ask you after your application. 99% they wont ask.

1. PaySlips
2. Dividend Vouchers
3. Personal Bank statements

are enough. But, to support those, try to submit these:

1. Share Certificate (you can get it online or ask your accountant)
2. Accountant letter explaining the Salary/Dividends and that you are 100% share holder

gaurav76.5 · Post by **gaurav76.5** » Fri Jul 06, 2012 2:27 pm

I was asked about theis documents..

tier1_aspirant123 · Post by **tier1_aspirant123** » Sat Jul 07, 2012 9:26 am

it will always be safe to submit business bank statement and company accounts. if you dont send it and case worker asks for it you will waste valuable time. also tier 1 guidance says:

http://www.ukba.homeoffice.gov.uk/sitec ... idance.pdf

"self-employed earnings within a business
or company structure:
If an applicant has worked in a selfemployed capacity in his/her own business
or company structure and has chosen to
keep his/her earnings within the business or
company, he/she could provide:
• business or company accounts that meet
statutory requirements and show the
net profit made for the earnings period
claimed; and
• personal/business bank statements.
If the applicant’s accounts and bank
statements only show the gross amount of
profit for the business he/she should also
provide a third piece of evidence showing the net profit of the business for the period
claimed, for example a corporation tax return
or an accountant’s letter. This is because
we can only consider the net profit of the
business for the applicant’s income.
If the applicant is not the sole shareholder of
the company he/she should also provide:
• a letter from his/her accountant confirming
his/her shareholding and the proportion
of net profit before tax to which he/she is
entitled for the earnings period claimed.
All accountants must be either fully
qualified chartered accountants or certified
accountants who are members of a registered
body, see section on providing evidence from
an accountant or accountancy firm."

so if i were you i would send business bank statement and company accounts along with accountant's letter.

chary · Post by **chary** » Wed Jul 11, 2012 3:11 pm

Thanks for your responses.
Yes, producing business documents is fine. But as per their guidelines itself, I assume that may not be necessary in my case. So, as one of the respondents mentioned, they may not ask mostly for my case where I am drawing salary and dividends and not keeping the profits in the company accounts itself.

I assume that as a director working for my company and claiming proper salary and dividends, I am considered as 'Employed' and NOT 'Self Employed' category. And more over, as they advised, we might have to submit the statements related to the business IF we chose to keep the profits within the company or business.

And yes, can keep those documents ready too, just in case.

Thanks again

tier1_aspirant123 · Post by **tier1_aspirant123** » Wed Jul 11, 2012 3:29 pm

that is a tricky bit. as per ukba you are self employed and not employed

see part 6A
http://www.ukba.homeoffice.gov.uk/polic ... roduction/

"Under Part 6A of these Rules, "Self-Employed" means an applicant is registered as self-employed with HM Revenue & Customs, or is employed by a company of which the applicant is a controlling shareholder."

gaurav76.5 · Post by **gaurav76.5** » Wed Jul 11, 2012 3:49 pm

you will be treates as self employed as per UKBA guideline but bein employed as director you should pay Class 1 NI contribution.
[quoteThanks for your responses.

[img]Yes, producing business documents is fine. But as per their guidelines itself, I assume that may not be necessary in my case. So, as one of the respondents mentioned, they may not ask mostly for my case where I am drawing salary and dividends and not keeping the profits in the company accounts itself.

I assume that as a director working for my company and claiming proper salary and dividends, I am considered as 'Employed' and NOT 'Self Employed' category. And more over, as they advised, we might have to submit the statements related to the business IF we chose to keep the profits within the company or business. [/img]

And yes, can keep those documents ready too, just in case. [/img]

I would still suggest to attach the all the business related documents as mentioned before with your application...[/quote]

chary · Post by **chary** » Thu Jul 12, 2012 6:08 pm

Oh.... I read some of the messages in this forum earlier and couple of the members whose application were successful said that they had mentioned in the application form that they were 'Employed'. They were sole directors of their companies and earning salary from their company.

Looks tricky. Does this mean that I need to register myself as 'Self Employed' with HMRC ? I have not done that so far and my accountant has not suggested me that.

gaurav76.5 · Post by **gaurav76.5** » Fri Jul 13, 2012 9:28 am

nope you dont need to that..in the eyes of UKBA you are trated as self employed but in eyes of HMRC you are treated as employed..only difference being here in you pay Class 1 NIC

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Tier 1 (G) extension with lesser than 12 months statements

Tier 1 (G) extension with lesser than 12 months statements