Hi all,
I am on a Tier 1 visa and have had a successful entry and extension as a salaried employee...my IRL is coming up in 2015, but due to baby commitments, I cannot go back to my job just yet...thus setting up a private limited company and will work from home to have more flexibility around family and baby...
Completely unknown terrain for me, and needless to say, am super scared about sustaining income level as well as documentation for ILR ! A few questions for anyone who can help...
1. I will be drawing salary and dividends...
a. Will salary slips, dividend vouchers, and personal bank statement showing both for 12 months suffice at time of ILR to show income?
b. Can I pay myself varying amounts of dividends per month depending on how much I need, or does it have to be a fixed amount?
2. Setting up a company:
a. For all the people who have set up companies, is there any resource on how I should go about it? Also, how do I find out more about how to pay taxes etc?
b. When do I need an accountant in the picture? Can anyone recommend a good affordable accountant who they worked with and liked?
3. What all documents need to be submitted for a limited company director at ILR time? Being salaried seems soo much simpler in retrospect...
Sorry for so many questions! Hoping someone can help...I understand some of the questions are more about getting started vs actual ILR, and if this is the wrong place to put them, I apologise and request you ignore them! But with so many people who have set up companies on this forum, and then gone on to successfully get ILR based on that, I am hoping for some gems from your experience, for a complete newbie to the world of self employed!!!
Cheers and thanks again!
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