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Combination of Salary & Dividents - IT contractor

Only for queries regarding Indefinite Leave to Remain (ILR). Please use the EU Settlement Scheme forum for queries about settled status under Appendix EU

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kksrirams
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Joined: Thu Jan 31, 2013 1:32 pm

Combination of Salary & Dividents - IT contractor

Post by kksrirams » Tue Feb 26, 2013 2:35 pm

I am an IT contractor currently in tier 1 visa and I am eligible for ILR in first week of April.

I am planning to show my earnings from Arpil 2012 to March 2013 which is combination of salary(minimum wages) and dividents.

I have not withdrawn my salaries and dividents seperately. I have always made 1 withdrawal per month which is a round figure and it would be combination of salary(minimum), divident and any expenses. My accountant would be providing me a detailed letter specifying the amount withdrawn with the dates - It would have the salary component (net and gross) and divident amount (net and gross) and the total would exactly match to what I have withdrawn. The following is what would be provided by my accountant:

1.Letter detailing a summary of your dividend income and salary for the period.
2.Supplementary schedule of invoice statements supporting the information in the letter.
3.Separate letter detailing income received from your Agency and banked amounts into your company bank account.
4.Countersigned salary payslips supporting the information in your letter.
5. Dividend vouchers supporting the dividend information in your letter.
6.Countersigned invoice statements which support the information in your letters and supplementary schedule.

I have been paying NI for the minimum wages as adviced by my accountant.

I was told that the case worker would be interested in matching the amount in payslip with the bank statement. In my case this cannot be done as I have withdrawn as combination of salary and divident.

Will this be a problem? Can some one advice me if there is a work around for it as i still have 2 monts (Feb and March) to make any adjustments.

I can get additional documents from my accountant if necessary.

Thanks

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