Tier I (General) - Extension Query Regarding Limited Company

[chandark]

Hi,

I am currently in UK on HSMP Visa and applying for Tier I (general) extension in the 2nd week of Feb.

I have my own limited company with 2 directors i.e me and my wife, with myself as 100% share holder. I am applying as an employee of my own limited company.

For previous earnings - I am Claiming both salaries and dividend's for the period 01/04/2009 - 31/01/2010. Planning to provide the below documents as evidence:

1). Payslips - Prepared by Accountant
2). Personal Bank Statements
3). Dividend Vouchers
4). Accountants letter confirming my gross salary and dividends (On Accountants letter head).

Have few queries as below:

1). Whose stamp/signature should the payslips have i.e accountants or me?

2). Who should sign on the dividend vouchers? My company does not have an secretary. Is it OK for my wife to sign the vouchers in the capacity of Administrative Director of my company or my accountant should sign on them?

3). Is there a need to submit my company's P/L account, Balance sheet and business bank account statements as read in some other posts?

4). Do i need to submit P60 for the previous financial year? ( The period of my claim in from 01/04/2009 till 31/01/2010) - Even though i have done my self assessment for the previous financial year i haven't yet recieved my P60.

Would appreciate if someone can guide me!

Thanks & Regards
Chandar

[mubu]

I would be interested in the same, awaiting answers.

[ChetanOjha]

Chandar,

Accountant Letter template here. Also a short advise by John as what to include in the letter.

1.If your accountant is generating standard payslips, than it don't need any sign or stamp. These payslips with have your name, company name and accountant name on it along with other details. I used the same for my extension and it was accepted.

2.Youcan sign the Dividend voucher. Relevant discussion in forum.

3.Though not required but as advised in many threads, it is better that you show enough profits in the company (so that you can claim dividends).

4.No. You don't need to submit P60 of all previous financial years. As long as you are providing payslips(which is also considered from the same source as of P60) + Dividende+Accountant Letter+ Personal Bank statements, you are fine to go.

[chandark]

Hi Chetan,

Many thanks for your reply.

I shall get my accountant to issue the letter in the same format as in your reply.

At the moment, it seems highly unlikely that my accountant will prepare P/L and balance sheet. He is still not convinced the need for that with this being my first trading year. So planning to take my business bank statements and Invoices from agencies along with me. Not sure if that would help, but can atleast show UKBA that my company is making profits via these.

Will update the forum with my experience at the PEO.

Regards
Chandar

[rams12]

Hi chandark,

My Tier1 general extension is in the next few months.
Me and my wife are directors and shareholders of the limited company and take dividends in the ratio of 60:40. Source of income to the limited company is through my IT contracts.

Can my wife be as a director and shareholder with out working ? Will it cause any impact when i go for tier1 extension?

Thanks,
rams