limited company payment issue

[marahman3001]

I am about to apply for HSMP extension in few days.

I live in UK and have limited company which is VAT registered. I have provided services to my individual customers (they are not companies) who are in India. I have sent invoice to them thru my VAT registered company but not included VAT in the invoices because no VAT to include for overseas customers.

I received the payment from them in my company business account through their UK based personal bank accounts. It means they sent me the payment through their known persons who lives in UK.

1. Does this raises issues in extension? Is this OK to invoice them without VAT?

2. My HSMP was approved last 2 years back when my company's year end is yet to finish. After few months of my HSMP approval, I have submitted year end accounts to HMRC and paid tax and everything. Do I need to submit the documents along with this HSMP extention application for the proof that I paid all taxes of HMRC?


Please suggest. Many thanks

[email257525]

I think you shoud get money into your bank accout directly from your customers (oversease).

Just wait for more comments from seniors

[mvent00]

I am about to apply for HSMP extension in few days.

I live in UK and have limited company which is VAT registered. I have provided services to my individual customers (they are not companies) who are in India. I have sent invoice to them thru my VAT registered company but not included VAT in the invoices because no VAT to include for overseas customers.

I received the payment from them in my company business account through their UK based personal bank accounts. It means they sent me the payment through their known persons who lives in UK.

1. Does this raises issues in extension? Is this OK to invoice them without VAT?

2. My HSMP was approved last 2 years back when my company's year end is yet to finish. After few months of my HSMP approval, I have submitted year end accounts to HMRC and paid tax and everything. Do I need to submit the documents along with this HSMP extention application for the proof that I paid all taxes of HMRC?

NO

Please suggest. Many thanks

You just need to provide a letter from your accountant (confirming that you have received the exact amount that you are claiming) and your personal bank statements for your Tier 1 visa application. These both proofs must match with each other.

[marahman3001]

what is the documents from tax authority ? Please clarify

[Sushil-ACCA]

I am about to apply for HSMP extension in few days.

I live in UK and have limited company which is VAT registered. I have provided services to my individual customers (they are not companies) who are in India. I have sent invoice to them thru my VAT registered company but not included VAT in the invoices because no VAT to include for overseas customers.

I received the payment from them in my company business account through their UK based personal bank accounts. It means they sent me the payment through their known persons who lives in UK.

1. Does this raises issues in extension? Is this OK to invoice them without VAT?

2. My HSMP was approved last 2 years back when my company's year end is yet to finish. After few months of my HSMP approval, I have submitted year end accounts to HMRC and paid tax and everything. Do I need to submit the documents along with this HSMP extention application for the proof that I paid all taxes of HMRC?


Please suggest. Many thanks

Invoicing without VAT for a Vat regd comapny to any country out of EU is fine .

payment made by Y for servicng X is also fine , if it is not a arrangement .

HO CAN ask u to correlate X any Y and your company relationship , even HMRC can ask it . if it is provable and geniune than you should be fine

another issue of money laundering also apply this yr accountant have to see, how far this affecting your transactions.

you need good accountant and documention to deal this . if all relationship can be proved

[marahman3001]

what is money laundering?
U mean i could not take the money out for my expenses, how much they may be, from my personal account where my dividends are paid by my company? Please put some light on this

[marahman3001]

what is money laundering?
U mean i could not take the money out for my expenses, how much they may be, from my personal account where my dividends are paid by my company? Please put some light on this

[Sushil-ACCA]

http://www.hmrc.gov.uk/mlr/

[Sushil-ACCA]

what is money laundering?
U mean i could not take the money out for my expenses, how much they may be, from my personal account where my dividends are paid by my company? Please put some light on this

Anti-money laundering controls and monitoring

If your business is covered by the Money Laundering Regulations you must put in place certain controls to prevent it from being used for money laundering. These include:

* assessing the risk of your business being used by criminals to launder money
* checking the identity of your customers
* checking the identity of 'beneficial owners' of corporate bodies and partnerships
* monitoring your customers' business activities and reporting anything suspicious to the Serious Organised Crime Agency
* making sure you have the necessary management control systems in place
* keeping all documents that relate to financial transactions, the identity of your customers, risk assessment and management procedures and processes
* making sure that your employees are aware of the regulations and have had the necessary training

[skomati]

customers can pay any form they want.. not only to be cheque or direct money transfer..
No problem if they pay by cash..
i have chain of landry shops and i am operating through limited company.
i issue invoice to my customers and all of them pay through cash only becuase it is small amounts and i can not expect or force them to pay by cheque or bank transfer..
when i ask for their name and addres to write on invoice, what ever they say i will write it down and i dont ask them to show their I.D like drivers license to prove their address..

so home office got nothing to do with your customers if u are operating through limited company..and u do not have to disclose ur customer details to any one else..

[marahman3001]

do i have to send the invoices to HO along with the application