hi, i am self employed working through limited company(small cell phone repair shop ) .. and even though i registered with Paye scheme , i did not took any salary because i have another full time job with another company ... so i took dividends from my own company..
so what documents do i need to submit for tier 1 general.. for my self employed earnings...
as per my understanding..
1. profit/loss account(dont know accountants letter head or company letter head)
2.balance sheet(signedby director)(dont know accountants letter head or company letter head)
3.dividend vouchers on my own company letter head,signed by secretary)
4 business bank account
5.personal bank account
6.letter from accountant confirming the dividends, Net Profit, tax credits etc..
are they sufficient? please clarify me whose letter head to use for profit/loss account and balance sheet
My accountant said , i dont need to take salary as i am the owner,100% share holder and director and i am paying tax and NI in my full time job where i am earning moe than £25000/anum.. so to reduce tax ,NI he advised me take in the form of dividends... Is it O.K?
i issue invoice/receipt for my clients .. but due to small amounts i have got nearly 200 invoice/recipt.. and deposit money to bank when ever possible..so i can not match each invoice amount with entry in business bank account..even to enter all the invoice details takes 3 to 4 pages..
so what to do with them?
please advise me...as i am going to submit my application in next 10 days..thank you verymuch
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