Ltd companies' owners and Natonal Insurance Bill

[rizwan567]

Dear forum members

The latest changes to Tier 1 guidance are:

para 140 says, If the applicant is claiming earnings from self employment in the UK, he/she must provide evidence that he/she was paying Class 2 National Insurance contributions during the period/s of self-employment used to claim points.

My question is: How about owners of ltd companies? What are they supposed to submitt with their application to meet above requirement. As only sole traders receive NI bills. Owners of Ltd companies do not receive such bills.

I look forward for your replies.

[atul.kundra1982]

Dear forum members

The latest changes to Tier 1 guidance are:

para 140 says, If the applicant is claiming earnings from self employment in the UK, he/she must provide evidence that he/she was paying Class 2 National Insurance contributions during the period/s of self-employment used to claim points.

My question is: How about owners of ltd companies? What are they supposed to submitt with their application to meet above requirement. As only sole traders receive NI bills. Owners of Ltd companies do not receive such bills.

I look forward for your replies.

I am in the same boat i am a limited company contractor planning to apply in feb i drew salary + dividend as standard practice for IT contractor and NI i pay via business account for the salary i earn on paye. As a limited company director i m not registered for self employed method.

I am little bit confused do i have to register as self employed as well now, as per understanding self employed income docs are different from limited company contractor. Pls. anybody clairfy if it the case then it is a problem ????

[shahid78]

Dear forum members

The latest changes to Tier 1 guidance are:

para 140 says, If the applicant is claiming earnings from self employment in the UK, he/she must provide evidence that he/she was paying Class 2 National Insurance contributions during the period/s of self-employment used to claim points.

My question is: How about owners of ltd companies? What are they supposed to submitt with their application to meet above requirement. As only sole traders receive NI bills. Owners of Ltd companies do not receive such bills.

I look forward for your replies.

I am in the same boat i am a limited company contractor planning to apply in feb i drew salary + dividend as standard practice for IT contractor and NI i pay via business account for the salary i earn on paye. As a limited company director i m not registered for self employed method.

I am little bit confused do i have to register as self employed as well now, as per understanding self employed income docs are different from limited company contractor. Pls. anybody clairfy if it the case then it is a problem ????

i got same problem i m the only director of my compnay am i suppose to pay nic?accoring to my accountant i m not suppose to pay nic can any body clear our this confusion plz

[atul.kundra1982]

Dear forum members

The latest changes to Tier 1 guidance are:

para 140 says, If the applicant is claiming earnings from self employment in the UK, he/she must provide evidence that he/she was paying Class 2 National Insurance contributions during the period/s of self-employment used to claim points.

My question is: How about owners of ltd companies? What are they supposed to submitt with their application to meet above requirement. As only sole traders receive NI bills. Owners of Ltd companies do not receive such bills.

I look forward for your replies.

I am in the same boat i am a limited company contractor planning to apply in feb i drew salary + dividend as standard practice for IT contractor and NI i pay via business account for the salary i earn on paye. As a limited company director i m not registered for self employed method.

I am little bit confused do i have to register as self employed as well now, as per understanding self employed income docs are different from limited company contractor. Pls. anybody clairfy if it the case then it is a problem ????

i got same problem i m the only director of my compnay am i suppose to pay nic?accoring to my accountant i m not suppose to pay nic can any body clear our this confusion plz

dear shahid

we do not need worry since u r a director and 100% shareholder of the company i assume u take director salary plus dividend as normal. Technically we are not self employed. Self Employed ppl are registered sole trader and they pay class 2 national insurance the day they register as a self employed.

I have confirmed from my accountant we are already registered as director when we formed the company and started trading, in terms of u r question to National Insurance i assume we pay Class 1 National Insurance as we recieve pay slip every month from the accountat for the salary that we drew as director the NI that we pay on the payslip is class 1 and the payment entry reflects on business bank statement, so keep your account the way they are no need to worry..... pls see this link and compare our status with self employed....http://www.businesslink.gov.uk/bdotg/ac ... =RESOURCES

[shahid78]

Dear forum members

The latest changes to Tier 1 guidance are:

para 140 says, If the applicant is claiming earnings from self employment in the UK, he/she must provide evidence that he/she was paying Class 2 National Insurance contributions during the period/s of self-employment used to claim points.

My question is: How about owners of ltd companies? What are they supposed to submitt with their application to meet above requirement. As only sole traders receive NI bills. Owners of Ltd companies do not receive such bills.

I look forward for your replies.

I am in the same boat i am a limited company contractor planning to apply in feb i drew salary + dividend as standard practice for IT contractor and NI i pay via business account for the salary i earn on paye. As a limited company director i m not registered for self employed method.

I am little bit confused do i have to register as self employed as well now, as per understanding self employed income docs are different from limited company contractor. Pls. anybody clairfy if it the case then it is a problem ????

i got same problem i m the only director of my compnay am i suppose to pay nic?accoring to my accountant i m not suppose to pay nic can any body clear our this confusion plz

dear shahid

we do not need worry since u r a director and 100% shareholder of the company i assume u take director salary plus dividend as normal. Technically we are not self employed. Self Employed ppl are registered sole trader and they pay class 2 national insurance the day they register as a self employed.

I have confirmed from my accountant we are already registered as director when we formed the company and started trading, in terms of u r question to National Insurance i assume we pay Class 1 National Insurance as we recieve pay slip every month from the accountat for the salary that we drew as director the NI that we pay on the payslip is class 1 and the payment entry reflects on business bank statement, so keep your account the way they are no need to worry..... pls see this link and compare our status with self employed....http://www.businesslink.gov.uk/bdotg/ac ... =RESOURCES

bro rizwan i do not draw out salaries i have been transferring money from my business account to my current account which my accounted showed as my dividend voucher by my compnay so i m confused what i m suppose to give earning proof to home office
will it b my current bank statment and divident voucher or and account letter
or
invoices given out to clints ,profit loss summary and account letter
what i m suppose to do?
thanks

[adityaisukapalli]

That Change in Tier-1 Guidance is not to do with Limited Company Structured Contractors. It is only for Self Employed.

When you are working through Limited Company and taking salary, you are not self employed. You are employed by that Limited Company.

[rizwan567]

I dont completely agree with you guys on this. I think owner of limited company are also self employed.

I do agree with the opinions of the accoutants and I logicially this condition of NI bills only applies to sole traders.

You guys are making assumations, which I hope are correct but the thing is, its better to be safe than sorry... whatif this condition applies to ltd companies, applicant will get rejection and by that time Tier 1 scheme will be closed anyway... so we are looking for some concreate answer to this question not assumptions.

[awiating_tier-1applicant]

why dont you guys use search option in this forum..

In past,moderators & people who already got tier-1 general who gone thru the same process has already posted their experiences in this forum...

rizwan, when you say you need concrete information, then I think the best thing for you is to call UKBA or go to any of the customer service center of UKBA and clarify all your doubts...

check out these link, its very usefull..

http://immigrationboards.com/viewtopic. ... ed+company

http://immigrationboards.com/viewtopic. ... ed+company

http://immigrationboards.com/viewtopic. ... ed+company

http://immigrationboards.com/viewtopic. ... ed+company

http://immigrationboards.com/viewtopic. ... ed+company

all the best....

[rizwan567]

With due respect, all the links you have referred above are more than 1 month old. And this latest requirement of UKBA is only introduced on 14 Dec 2010. So howcome people in past have discussed this before it is annonced! I recommend you better spare some time and go through guidance notes to get your facts clear...