Tier 1 extension refused- company net profit not accepted.

[A&J]

I applied PEO 10 sept 2012 . after 12 weeks refused tier 1 extension. salary+net profit of my own limited company. not accepting limited company net profits.

only counting salary+ dividends not accepting the money remaining in business account. saying as the money is not transferred into my personal account from my business account it will not be counted as my earnings.

urgent help needed.
as from guidelines
1. limited company directors will be taken as self employed
2. if 100% share holder, company net profit may be considered as earnings
3. if self employed working in form of limited company structure and which to retain funds send the proof.

then what went wrong? I don't have a clue?

[Lucapooka]

then what went wrong? I don't have a clue?

You provided a set of accounts for a company, of which you are a paid employee and director. That's all well and good. However, what did you provide in the way of evidence of statements that showed that there were the one and only director and shareholder of that company?

[A&J]

gave everything from company house, share documents, also accountant confirming my share. i have not missed any documents.

[rizwan567]

feeling sorry for you.

I am quite sure caseworker has made a mistake on it.

Ofcourse you are supposed to appeal and I think you have a strong case. But at the same time i would advise you to write a letter to the caseworker and request him to reconsider his decision.

Also quote the relevant paragraph of policy guidance in your letter.

[asifbunny]

Have you got any news about your appeal??????
i am in same situation and going to apply on 27 march 2013

[shahmir]

I think Paragraph 94 of the Tier 1 (G) Guidance applies to this. Amounts transferred from your business account to your personal account are now net profits.

Amounts not yet transferred from business to your current account will still be considered by UKBA but only after tax.

[alimohmand]

Unfortunately it appears that the caseworkers are not well trained when it comes to considering net profit.

Similar thing happened to my Brother but fortunately he provided dividend vouchers and he was given the extension based on dividend rather then net profit!

I guess go for an admin review

All the best

[nice32]

if your a director and taking just dividend then you need to transfer it your personal account every month. or once in a year ,twice etc. but dividend must be in your personal account. your case worker is right.
i don't know how you will prove it senior may answer.

[tier1_applicant]

I applied PEO 10 sept 2012 . after 12 weeks refused tier 1 extension. salary+net profit of my own limited company. not accepting limited company net profits.

only counting salary+ dividends not accepting the money remaining in business account. saying as the money is not transferred into my personal account from my business account it will not be counted as my earnings.

urgent help needed.
as from guidelines
1. limited company directors will be taken as self employed
2. if 100% share holder, company net profit may be considered as earnings
3. if self employed working in form of limited company structure and which to retain funds send the proof.

then what went wrong? I don't have a clue?

while not very clear in guidelines, it appears, you can not have double status in the same company to claim your earnings (a salaried employee (salary +dividends) and self employed (net profit).

See the statement in application form mentioning it is either of one:

Letter from your managing agent/
accountant confirming that you
received the exact amount that you
are claiming, or the net profit to
which you are entitled

[digitalrev]

I feel sorry about you, I hope you are going to win the appeal.

I am in the same boat as yours. I applied as employed + company director. I have taken salary for last 12 months and took dividend last month. Dividend amount has been transferred to my personal bank account. I provided business bank statement for last month only to show that dividend amount has been coming out from company account.

is there anything have I missed ?

[karg_g]

Hi

Few things to remember:

For Salary Show two sources of proof (Bank Statement & Payslips)

For Dividends show two sources of proof (Bank Statements & Dividend Vouchers) Also this needs to be confirmed by an accountant who is certified as per the link below: http://www.ukba.homeoffice.gov.uk/visas ... s/#header5

If you are claiming Salary then you can not claim Net profit of your company.

If you claim Dividend then you can not claim Net profit of your company

If you claim Net profit of your company you can not claim Dividends.

[ali_asad_pk]

Profit in company account is not considered as your income so you have to make a transaction from company account to your, no matter if you are 100% share holder so UKBA seems right in this case for objecting on this issue

[mazumder]

I applied PEO 10 sept 2012 . after 12 weeks refused tier 1 extension. salary+net profit of my own limited company. not accepting limited company net profits.

only counting salary+ dividends not accepting the money remaining in business account. saying as the money is not transferred into my personal account from my business account it will not be counted as my earnings.

urgent help needed.
as from guidelines
1. limited company directors will be taken as self employed
2. if 100% share holder, company net profit may be considered as earnings
3. if self employed working in form of limited company structure and which to retain funds send the proof.

then what went wrong? I don't have a clue?

[mazumder]

I applied PEO 10 sept 2012 . after 12 weeks refused tier 1 extension. salary+net profit of my own limited company. not accepting limited company net profits.

only counting salary+ dividends not accepting the money remaining in business account. saying as the money is not transferred into my personal account from my business account it will not be counted as my earnings.

urgent help needed.
as from guidelines
1. limited company directors will be taken as self employed
2. if 100% share holder, company net profit may be considered as earnings
3. if self employed working in form of limited company structure and which to retain funds send the proof.

then what went wrong? I don't have a clue?

i am in the same problem, my visa have been refused saying dividend money didn't go to the personal account don't know what to do, is there any one who win the appeal with the same problem.........please give me suggestion.........................

[BYC]

Hi, pls where are u up to with you case, hv u put it an appeal yet?

[tier1appeal]

I have the same issue and got my Visa refused.
I appealed and have won my case in First Tribunal