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salary + dividends from retained profits -- Ltd company

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leet_uuuk
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Posts: 3
Joined: Mon May 31, 2010 11:43 pm

salary + dividends from retained profits -- Ltd company

Post by leet_uuuk » Mon Sep 03, 2012 4:50 pm

Hi.

Last week i went to PEO Croydon for my SET(O) ILR Premium appointment. I'm eligible after leaving here for 5 years ( 1 year Work Permit + 4 Years Tier 1).

work perimit 2007-2008
tier 1 -- 2008-2012


I'm self employed worked as an consultant, operating my limited company. I had high expectations as my case is straightforward as i have enough salary coming in for the last 10 months to claim points and had everything else ok.

I don't have any invoices coming in for last 10 months as i been working towards to grow my business working on some innovative products. But i been paying myself salary + dividends with profits carried over from year ending september 2011.

At the interview, case worker asked me to provide my latest invoices for which i said, i dont have any invoices because i been trying to restructure my business but provided invoices until feb 2011.

Case worker gave me a letter asking me to provide more documentation to make a decision which includes.

1 company accounts for last 4 years.
2 invoice summary document from accountants.
3 profit and loss account letter from account for the period im claiming points for.

I have prepared all of these and gave it to my immigration lawyer yesterday and hoping for the best.

my questions :

1 Is it ok to pay myself salary + dividend even though i dont have invoices coming in from last 10 months. ( money is retained profit from last financial year )

2 how long will they now take to make a decision my settlement application ( premium appointment ). Is it going to be just like postal application now where i have to wait months for decision..

please anyone who are in similar experience or know something about it comment.

thanks

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