self emploment and urgently need help

[plaistow]

Hi all,

I am working full time with a IT company and earning around 25k a year and also working privatly and earn 12k in a yaer and that is all in cash.

Point is i do not put that money into my bank instead i keep in cash and spend in my day to day shoppings etc. I am applying visa in a month time and if i deposit money in cash into my bank and home office might ask me question regarding that why did i had trasaction at last month of my bank statement instead of depositing every month.

Please someone advice me on that, my accountant is dealing with my self employment taxation etc.


Thanks

[HSK Accountancy Services]

Hi all,

I am working full time with a IT company and earning around 25k a year and also working privatly and earn 12k in a yaer and that is all in cash.

Point is i do not put that money into my bank instead i keep in cash and spend in my day to day shoppings etc. I am applying visa in a month time and if i deposit money in cash into my bank and home office might ask me question regarding that why did i had trasaction at last month of my bank statement instead of depositing every month.

Please someone advice me on that, my accountant is dealing with my self employment taxation etc.


Thanks

If you have already spent the money on day to day expenses then where you gona get the money now? HO will certainly ask this question and may ask for further information to prove your income

Home office is now closing these loop-holes and getting strict on self-employment so be careful and try to find other solutions!

[plaistow]

Thanks for ur reply.

I have money in cash as well kindly advice me what to do instead of making me more scared.

There must be any solution available, looking forward for help. You guys can send me pm as well.

Cheers

[John]

plaistow, how long ago did you start your self-employment? And has the existence of the business been reported to HMRC?

The nature of your self-employment? What do you do?

[plaistow]

plaistow, how long ago did you start your self-employment? And has the existence of the business been reported to HMRC?

The nature of your self-employment? What do you do?

Hello John,

yes i did informed hmrc since february and i have been doing since september last year.. i only deposit £300 every month into my bank account but rest i keep in cash.

i am providing IT services like networks and installations etc.


Please advice and guide on it and is money generated on rent would be considered by home office ?


Cheers

[drdheer]

Money should be coming into Bank account. Otherwise how come HO will come to know that you earned the amount. Money coming in bank account should correspond with the amount due on invoice. In latest rules HO wants Bank statement and ALL invoices. Apart from this you need all other supporting documents as well. Most important is pay the tax/NI even if it is due 31st Jan 2011 in your case and put receipt with application.

[aruni4470]

Please advice and guide on it and is money generated on rent would be considered by home office ?

HO will consider

• income from property rental, where this forms part of the applicant’s business;

[popeel_pub]

my case is checking everything top to bottom in self employment


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