Questions on ILR for Limited Company Director

[techie_09]

Hi All,

I am a limited company director with 55% share (rest of 45% are allocated to company secretary). My 12 months payslips + dividend payments are sufficient for me to get past required earnings level.

I am planning to submit following documents towards earning proof

1. salary slips (12 months)
2. dividend vouchers (paid during 12 months)
3. personal bank statements (12 months)
4. business bank statements (12 months)
5. accountant letter for salary and dividends paid during 12 months claim period
6. last year corporation tax return acknowledgement letter from HMRC (will be 4 months old at the time of applciation)
7. stamped copy of invoices from issuing agency. My agency operates self invoice generation scheme and pay it to me. (12 months)

I went through the forum and documents from UKBA website but couldn't find clear answer. Do I need to include following documents:

1. accountant letter for company profit and loss stament for 12 months claim period? In my case I have already paid dividens to myselft so does it apply to me? My company years ends in July and I am claiming for 1 Dec 2011 to 31 Nov 2012 period.
As per the UKBA guidenace notes http://www.ukba.homeoffice.gov.uk/sitec ... iew=Binary page 34

"Self-employed earnings within a business or company structure:
If an applicant has worked in a self-employed 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 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. "

2. accountant letter confirming shareholding . My company return reflects my shareholding letter
3. I have copy of last filed company return. Do I need to get it signed and stamped from accountant or on HMRC acknowledement letter (point 6) is sufficient?
4. any other documents apart from above mentioned list


Many thanks in advance.

[ILRHolder]

Your accountant can mention your shareholding on the same letter which describes your earning.
dont forget to carry all 5 years P60, company incorporation certificate from the Companies House, and P45s for any employer where you worked under work permit (I was asked for all these)
If your current accounts is not due then you can carry your last years completed account (if you have any)
They are also interested in finding out if you have been paying your PAYE/NIC and VAT regularly. So if these go out of your company's bank account, then highlight it (I was asked to do that), or else carry a proof of that.

[techie_09]

Hi,

thanks for your reply. I do have company return so I will carry that.

Can you please suggest whether I need to get letter for accountant for "profit and loss statement during the claiming period"?

Thanks

[ILRHolder]

If you carry your last completed accounts then it will show the profit loss anyways so no need to carry a separate letter for that.

[techie_09]

Thanks ILRHolder. Thanks for your reply.

If I rephrase, my basic question do I need any other documents for earnings proof apart from listed below?
=============
1. salary slips (12 months)
2. dividend vouchers (paid during 12 months)
3. personal bank statements (12 months)
4. business bank statements (12 months)
5. accountant letter for salary and dividends paid during 12 months claim period
6. last year corporation tax return acknowledgement letter from HMRC (will be 4 months old at the time of applciation)
7. stamped copy of invoices from issuing agency. My agency operates self invoice generation scheme and pay it to me. (12 months)
=============

I have already went through the guidance notes but not clear about this. Any help is highly appreciated.

Thanks in advance.

[ILRHolder]

No. This is sufficient as they only ask for earnings from two different sources.

[techie_09]

Thanks a lot.