Tier 1 extension as limited company

[asifbunny]

Hi guys, I am an Director of a limited company and working as a contractor and providing my services to a company's clients then i give invoice to the company who pay me BACS payments .i am 100 % shareholder as well.
I am going to PEO Croydon on March 20 , 2013 for my Tier1 extension. And my Limited company is just 9 months old .

i am not taking any director salary or dividend payments but decided to keep profit in business

So the documents I am gonna carry with me are

1)Last 12 months Business bank statements
2- my Company Registration Certificate
3- Current Director Appointment Confirmation of my company
4- A letter from Accountant confirming total gross income
5-Annual management Accounts from Accountant
6- Invoices
7- Contract Agreement
8-Personal Bank Account
9-Share certificate
10- No dividend voucher as i retain profit in business and dont withdraw any dividends

is all above docs are enough ??????what else i need to show from the company for whom i work i already have contract ....any other documents ?????

i will be very grateful for your advise.

[karg_g]

Hi

I m worried because u have it confused between limited company and sole trader. Ur different from ur limited company but u and ur sole trader are the same. HRMC Website will explain this more.

I hope u can prove ur self as self employed and not thro Ltd company. Otherwise just drawing dividend might be better option.

Pls check with ur solicitor and ur accountant for final confirmation.

Good luck and I sincerely hope I am wrong

[asifbunny]

http://www.immigrationboards.com/viewto ... 6817d1ddfe


please click on this link i have same situation

[asifbunny]

please see the guidline at 119 which say

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 corporation 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

[tier1_aspirant_del]

asif, you are employed (as you are director of limited company) but since you wish to get points based on net profits you need to put these docs -

Profit/loss statement prepared by certified accountant
Accountant letter confirming your shareholding and your share of net profit
business bank statement
personal bank statement (like for maintenance fund)
all other docs

Read the guidance properly and go through the forum. You will find lot of examples.

If you want to have a good certified accountant then let me know. I will PM you. Just got my extension today from PEO croydon (though i was on salary + dividends)