Self Employed doubt on Tax deduction

[suraj.ap]

Hi Experts,

I am self employed(registered from June 2012) sole trader and going for Tier 1(general)extension in Jan 2013.

I have read the below post and i got the doubt about need of tax deduction from my earnings for visa extension.I am afraid that if i deduct my earnings due to tax i will be short of points.

In the below do point no 93 says that the Net Profit is counted after the tax & outgoings.

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

And also read the below post-->
http://www.immigrationboards.com/viewto ... e+template


Could you please let me know which one below will apply to me to calculate my earnings to apply for extension in Jan 2013-
1. Net Profit = Income - (Expenses + Tax)
2. Net Profit = Income - Expenses

Thanks !!

Regards,
Suraj

[scorpio_besal]

2. Net Profit = Income - Expenses

[suraj.ap]

Hi scorpio_besal,

Thanks for the response !!

If you dont mind, could you please confirm, why point 2(ie Net Profit = Income - Expenses) apply in my case?


Regards,
Suraj

[scorpio_besal]

Mate, its simple, Like for an employed person gross salary (taxable income) is considered to claim the points likewise for self employed its total income - expenses to get the taxable income (Net Profit) to claim the points.

[suraj.ap]

Mate, its simple, Like for an employed person gross salary (taxable income) is considered to claim the points likewise for self employed its total income - expenses to get the taxable income (Net Profit) to claim the points.

Thanks a lot for the clarity !!


Regards,
Suraj

[adl]

hello,

I am on same situation,

Could any one guide me what sort of evidences do I need to present if I want to claim self employed earning points?
according to policy guidance they are

1.bank statements
2.profit and loss accounts
and additional evidence they mentioned that is
3. accountant letter

could any one help me they are enough evidences to claim self employed earning points or do i need to present some thing else as well.

Many Thanks in advance
adl

[tbnag]

hello,

I am on same situation,

Could any one guide me what sort of evidences do I need to present if I want to claim self employed earning points?
according to policy guidance they are

1.bank statements
2.profit and loss accounts
and additional evidence they mentioned that is
3. accountant letter

could any one help me they are enough evidences to claim self employed earning points or do i need to present some thing else as well.

Many Thanks in advance
adl

Pls check the below links:

http://www.immigrationboards.com/viewtopic.php?t=114964
http://www.immigrationboards.com/viewtopic.php?t=108827

[tbnag]

Also check this-

http://www.immigrationboards.com/viewtopic.php?t=117622

[tbnag]

[quote="tbnag"]