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Could you please share your TIER 1 EXTN experience ?papu.sarkari wrote:Hi All,
I have been a silent reader of this forum. I am going to be applying for my Tier 1 extension in September.
Basically I am Employed (A) + Self Employed (B).
I am Employed at Firm A from where I receive my monthly salary.
I have Limited Company where I am the director (100%) share holder of the company. I DO NOT draw any salary out of the company as my employment salary from firm A is enough to keep me going. However, I take quarterly dividends out of my own Limited Company.
After reading the Tier 1 Guidance document, it seems it is necessary to show proof of Class 2 National Insurance being paid by self employed individauls. However, as I am director and only drawing dividends, my accountant advised that this is not necessary.
Does anybody have experience about this?
I intend to show my
1. Employment Salary
2. Private Limited Company Dividends as income source.
As a proof I will be getting a letter from my accountant + Incorporation letter from company house + proof of CIMA register accountant + bank statements of Business account + personal bank accounts + profit/ Loss accounts + accountant letter confirming my Net income.
Do you think anything is missing? As this company was incorporated in September 2011, my tax is not due untill 30 th Septmeber 2012. In this case, the accountant will confirm my total earning. Is this enough? or Class 2 National Insurance registration/payment is necessary.
From reading through the forum, it seems Glasgow/Liverpool PEO office does not take decisions immediately. In this scenario, it is better to apply via post?