ILR Application, Limited Liability Co - ACCOUNTS?

[senna]

Hi Guys,

I'm applying for ILR on 24th Oct having completed 4 yrs and 11 months since I was granted Tier 1 first time. I have been working through limited liability company for the last 18 months and my financial year closes on 31.05.13 however I need to submit proof of earnings as you know for last 12 months prior to application date (i.e Oct '12 to end Sep 13 in my case)

Does the case worker expect a full set of financial stataments for the last 12 months prior to applying, or is only a Management Accounts letter from certified Accountant saying my earnings (salary + dividend) is sufficient?

The issue is that if I have to issue a full set of financial accounts for the 12 months prioir to application proving my earnings will cost me 2K GBP extra charge from my Accountant as my nomal year ends 31.05. so they will do this as an extra charge for a whole year accounts covering a different time period than normal.

The Accountant offered a 'Management Accounts' only whcih is basically states my earnings but I'm not sure if it's enough...

I would also appreciate if anyone can share a template or form which shows what this letter/statements should look like.

Help please!

[karg_g]

Hi

Technically speaking you should be OK, however given the recent changes I would suggest you cover all angles possible. Your accountant can prepare an interim company document when you go to PEO.

From HMRC point of view and as per tax laws Senna is different from his limited company. You are employed and hence UKBA should only refer to your payslips & dividend vouchers. This has also to be supported by an additional source namely Bank Statements & Accountant statement. Your company not having filed or not filed its returns is not "Senna's " problem. I know this is a fine difference but being responsible citizen/resident its better to have all done as much as possible.

Good luck

[rajesh9pl]

You only need these:

1. Letter from accountant confirming your earning
2. Salary slips
3. Dividend Vouchers
4. Personal Bank Statements
5. Business Bank Statements
6. Invoices

Nothing else!

[iamab3liever]

You only need these:

1. Letter from accountant confirming your earning
2. Salary slips
3. Dividend Vouchers
4. Personal Bank Statements
5. Business Bank Statements
6. Invoices

Nothing else!

I've a query that's confusing me. The income period I'll be claiming for is 01/10/12 to 30/09/13. Now do I need to submit invoices that have been raised during this period or those that were paid into the business account during this period??

For example, the invoice raised in 09/13 has actually been paid in 10/13 which falls outside the income period. Should this invoice be included?

Please clarify.

[iamab3liever]

You only need these:

1. Letter from accountant confirming your earning
2. Salary slips
3. Dividend Vouchers
4. Personal Bank Statements
5. Business Bank Statements
6. Invoices

Nothing else!

I've a query that's confusing me. The income period I'll be claiming for is 01/10/12 to 30/09/13. Now do I need to submit invoices that have been raised during this period or those that were paid into the business account during this period??

For example, the invoice raised in 09/13 has actually been paid in 10/13 which falls outside the income period. Should this invoice be included?

Please clarify.

Could any gurus/senior members respond please.

[humanorgan]

My situation is similar to yours and I was recently approved ILR. For my application, I included all raised and paid invoices within the last 12 months including a month outside the period on either side (so making it 14 months), just to be safe. As per your example that you raised, yes, you should include that. I hope this helps.

[iamab3liever]

My situation is similar to yours and I was recently approved ILR. For my application, I included all raised and paid invoices within the last 12 months including a month outside the period on either side (so making it 14 months), just to be safe. As per your example that you raised, yes, you should include that. I hope this helps.

Right, will do as you've suggested and hope for the best! Thanks.

[raholptl]

My situation is similar to yours and I was recently approved ILR. For my application, I included all raised and paid invoices within the last 12 months including a month outside the period on either side (so making it 14 months), just to be safe. As per your example that you raised, yes, you should include that. I hope this helps.

Hi humanorgan,
can you please list the documents you submitted with your ILR application. Thanks in advance.

[senna]

Thank you all - this is v helpful

Best of luck to those of you applying soon!

[custodian]

You only need these:

1. Letter from accountant confirming your earning
2. Salary slips
3. Dividend Vouchers
4. Personal Bank Statements
5. Business Bank Statements
6. Invoices

Nothing else!

Hi, I am applying for my ILR based on completing 4 years and 9 months as a self-employed individual with a Limited company setup.

As a self employed person one tends to pay themselves a salary which does not attract National Insurance contributions. (currently 640 per month). The rest of the money is drawn in dividends.

Did you have to submit a "small earnings exception certificate issued by HM Revenue & Customs for the most recent return date."

More info on page 43 of this document
http://www.ukba.homeoffice.gov.uk/sitec ... iew=Binary

Please share your experience on the above document. Thanks.

[rajesh9pl]

You will not be considered Self employed as you draw a salary. All contractors pay themself minimum salary, as you are doing. I did the same. List of documents remain same, no other documents is required.

You only need these:

1. Letter from accountant confirming your earning
2. Salary slips
3. Dividend Vouchers
4. Personal Bank Statements
5. Business Bank Statements
6. Invoices

Nothing else!

Hi, I am applying for my ILR based on completing 4 years and 9 months as a self-employed individual with a Limited company setup.

As a self employed person one tends to pay themselves a salary which does not attract National Insurance contributions. (currently 640 per month). The rest of the money is drawn in dividends.

Did you have to submit a "small earnings exception certificate issued by HM Revenue & Customs for the most recent return date."

More info on page 43 of this document
http://www.ukba.homeoffice.gov.uk/sitec ... iew=Binary

Please share your experience on the above document. Thanks.