HSMP extention - working through a limited company

[ilz]

Yes, luckily I have enough points

[jay101]

well dividend tax vouchers and corporate tax vouchers are 2 names for the same thing ...
yea i did ask my acountant to send me the pay slips showing the ni and tax deductions ...
in my tax vouchers it was not mentioned on each one tht i own 100 % shares ... so i guess they require another letter from the accountant to verify the same thing ... as they want 2 proofs for everything ...
I also got a letter frm my company HR manager to confirm i hav earned the said amount in the selected period ...

[Jk2007]

jay101

Are you providing any other proof such as copies of contract that shows your rate (daily or weekly)?
Are your payslips showing contract income reconciliation, such as how much you made through the contract and how much was paid to you after the deductions?

[jay101]

yes i hav included the contract which shows the hourly rate ...
also the pay slips do not show the deductions other than the NI and income tax ... but i get invoices everyweek which show the rest of them so am attaching those too ...

[Spear]

"Further, if his company was not taking in enough for the 75 points, he would then need to show three app routes 1) employee only, 2) self employed against point system and failing, 3) transitional arrangement for those in category 2."

Remember folks you can use full time and part time employment and several jobs towards total earnings for your extension. It is not an either or situation. Therefore one can take a part time job, start a home business, contract, internet business all while having a full time job. The extra earnings can be used to make up full time income to meet the extension income level thresholds.

I guess the rational of the HO would be not to limit the possibilities of HSMP ers. Many may not be able to start a business right away so they can get their "feet wet" in a business venture while still being full time employed. Also many can get part time contracts etc, while being full time employed. The HO stated in the past they wanted Highly Skilled persons who would most likely start companies etc. Thus I think this policy would stay in place for a while.

[SASMAN]

Hi, I am going to be applying for my HSMP soon, in the same boat being the director of a ltd co. and trying to find out whether other people have had any luck applying under the new rules?

I was thinking of applying through a visa company but they charge over 1000 pounds not including the govt fees so it really would be helpful to know whether you can do it yourself (with a little help from the accountant.)
I know I have enough points its just a matter of proving my income (as all the other sections are straight forward).

I do not have a tax return as the money earned is in the current tax year, so as I understand it I need to get corporate tax vouchers (not sure what these are but will ask accountant),
pay slips , personal bank statements, and the letter saying I am 100% shareholder and run the company.

Anyway if anyone could let me know whether they have applied succesfully with the above docs it would be greatly appreciated.
cheers

[rit_uk]

As far as I know, from HMRC point of view, Self Employment is different from Limited Company. Not sure how HO differentiates them.

In case of a limited company, you are employee of a company as Director, and thus get a salary. Then since you hold share in that company, you get the money as dividends.